Corporate Finance - E&Y flies the flag.
Ernst & Young acted as the lead adviser for British Airways in its acquisition of British Air Lines Group. The recommended cash offer valued the group at £78m. Made up of British Regional Airlines and Manx Airlines, the group predicts pre-tax profits of at least £10m for 2000.
David Vaughan, corporate finance partner at E&Y, said: ‘It is a natural extension of our work for BA. We are now seen as a credible alternative to investment banks.’
More on BA at www.britishairways.com
Ernst & Young’s website is at www.ey.com/uk.