Mystery buyer swoops for BMI Baby

Low-cost airline BMI Baby is on the verge of being sold to a mystery UK buyer who plans to expand the carrier across the UK and Europe, its owners said.

Parent company BMI said it had signed a term sheet - a bullet point document outlining the key aspects of a deal - for the sale of 100% of BMI Baby's shares and assets, including its aircraft, staff and existing route network for an undisclosed sum.