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.’

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Ernst & Young’s website is at

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