Bourne Leisure, the privately owned UK caravan park operator, was reported last weekend to be ready to pay £120m for Go, the low-cost airline put up for sale by its parent British Airways.
The Sunday Telegraph reported Bourne was ready to step in if Go’s management, which is backed by 3i, failed to pull off a buy-out of the business. According to the Sunday Times, BA was expected to announce an MBO later this week on terms that would value Go at less than £100m. The airline has not confirmed this.
“We’re not commenting on all the speculation that’s going on”, a BA spokesperson told Reuters.
Bourne Leisure’s new offer would be considerably higher than the number it came up with earlier in the auction which started last year. Bourne’s initial offer was just over £100m.
It is understood that if victorious, Bourne would ask Go’s management, led by Barbara Cassani, to continue to run the business.