Bland/GB Airways disposal:
Retained as the business and financial advisor to the Bland Group to explore the alternative strategic options, resulting in the mandate to dispose of the GB Airways business. We identified a number of potentially-suitable investors; prepared, organised and managed the vendor due diligence process on behalf of GB Airways; and conducted preliminary negotiations, leading to exclusive, detailed negotiations with easyJet which culminated in the completion of a deal in January 2008 when regulatory clearance was obtained.
International airline acquisition due diligence:
Assisted a major international airline in its acquisition of an overseas carrier. Provided a team of consultants to conduct industry due diligence of the target airline and supported the client with regulatory and general transaction advice.
Barclays Capital/SWISS financial restructuring:
As industry advisor to banks look to re-finance SWISS International Airlines, we reviewed the turnaround plan as part of a due diligence exercise to assess the feasibility of the new business model, they key issues and risks involved and their impact on the viability of the company.
BC Partners/Amadeus acquisition:
Industry advisor to the successful consortium in the acquisition of Amadeus, one of the major Global Distribution System entities, where we provided an independent perspective of the future potential of the company’s changing business model.
Retained as advisor to aviation IT service and outsourcing provider interested in OAG’s business offering, to shape a deal around an acquisition.
Hochtief AirPort (HTA):
Retained as the business and industry adviser on the potential acquisition of airports.
- Advised HTA on its bid for London Gatwick Airport and developed a strong industry solution in conjunction with the Gatwick based airlines which led to HTA being the preferred industry operator for the airport with key stakeholders
- Advised HTA on its bid for the Airline Group (AG) and NATS which involved stakeholder management, development of business case involving a merger with Deutsche Flugsicherung (DFS), and negotiation with UK Government and AG
- Advised HTA on its potential acquisition of Budapest Airport as part of the Hungarian Government privatisation process – evaluated the business potential of the airport and the future strategy of the incumbent carrier Malev
UK regional airline acquisition due diligence:
On behalf of Nikko Principal Investments Ltd., we conducted a due diligence review of a UK regional airline to assess the future viability of the airline’s business model. This involved evaluations of the commercial, operational and technical aspects of the business.
Clayton Dubilier & Rice/SR Technics due diligence:
As industry advisor to CDR, we conducted a due diligence review of SR Technics, applying industry insights, knowledge and contacts, to provide an independent perspective of the operating and commercial environment and the likelihood of success of its integrated MRO service offerings in the context of client requirements and the competitive environment.
Aegean Airlines due diligence:
On behalf of a major private equity house interested in acquiring Aegean Airlines, we conducted commercial and operational due diligence of the airline.
Heathrow slot valuation:
We reviewed the Heathrow slot portfolio for a major international airline and advised the client on how to evaluate the slot assets for future treatment.
bmi/Lufthansa slot valuation:
We conducted a slot valuation for Lufthansa on the bmi Heathrow slot portfolio which contributed to the decision made around the potential sale of bmi.
Heathrow slot transactions:
Nyras was mandated to dispose of slots at Heathrow airport by airline clients in 2007 and 2008. This involved identifying likely buyers, ‘mixing and matching’ the slot times to create attractive slot pairs, negotiating the slot transfers, and assisting in the development of contracts. Nyras has also provided advice to airlines interested in acquiring or disposing of slots during 2009 and 2010.