Bain Capital is set to acquire 16.6% stake in Icelandair Group.

[HS-TQE]

A new partner for VA in the future, perhaps?

Investor Bain Capital backs Icelandair with plan to take 16.6% stake

Investment firm Bain Capital is to take a 16.6% share in Icelandair Group, through the IcKr8.1 billion ($66 million) acquisition of new shares in the company. Bain Capital has entered a binding agreement to subscribe to 5.66 billion new shares. Its acquisition is conditional upon shareholders...

www.flightglobal.com

Investment firm Bain Capital is to take a 16.6% share in Icelandair Group, through the IcKr8.1 billion ($66 million) acquisition of new shares in the company.

Bain Capital has entered a binding agreement to subscribe to 5.66 billion new shares.

Its acquisition is conditional upon shareholders agreeing to the transaction and waiving their pre-emptive rights to the new shares.

Icelandair Group shareholders will meet on 23 July to vote on the investment proposal.

“We are pleased to have a leading global investor with deep industry knowledge recognise our efforts and commitment to secure Icelandair’s bright future,” says chief executive Bogi Nils Bogason.

Bain Capital would also place a representative on the board of directors. One of the board members, Ulfar Steindorsson, will step down if the transaction is approved.

 

[docjames]

Mayne they can buy multiple airlines and have a 4th alliance?

Bainworld?
Bain Alliance?
Bainteam?

 

[jakeseven7]

Will VA2 and Iceland airlines join star alliance

 

[RooFlyer]

I once saw an Icelandair jet at Port Moresby airport.

... turns out that they have, or had, a decent leased fleet.

 

[HS-TQE]

Will VA2 and Iceland airlines join star alliance

Maybe Bain should 'buy' the Star Alliance and rename it the Bain Alliance

Because why not with their recent aviation activities involving aircraft leasing firms, Virgin Atlantic and now Icelandair

 

[AIRwin]

I did not know he is a board member of Icelandair, as reported here:

Former Virgin Australia executive heads new US airline startup

Former Virgin Australia executive John Thomas is launching a new short-haul airline, Connect Airlines, in the US, initially linking Chicago O'Hare and Philadelphia with Toronto's Billy Bishop Airport using two De Havilland Dash 8-400 turboprop aircraft; the airline is targeting "total...

centreforaviation.com