Aberdeen-based airline bmi regional has parted company with the man who oversaw its transformation into an independent business.
Bmi confirmed the departure of chief executive Cathal O’Connell yesterday, saying it had already appointed his successor.
The new man at the helm is Peter Simpson who was part of the senior management team at British Airways (BA) in 2012 when the parent, International Airlines Group (IAG), threatened to close down bmi regional if it could not sell it.
A bmi regional spokesman said Mr O’Connell had told colleagues in January that he was leaving the post he had held for nearly two and a half years.
The spokesman added: “Cathal has been CEO of the airline since 2012 and oversaw its transition from a wholly-owned subsidiary of bmi to an independent regional airline.”
Mr O’Connell, 52, could not be contacted but it is thought he has already been appointed to another top management job in the aviation sector.
When he became bmi regional’s chief executive after a spell as chief commercial officer he added to the ranks of Irish airline bosses, alongside Willie Walsh at IAG, Ryanair’s Michael O’Leary and Qantas Airways CEO Alan Joyce.
The appointment coincided with bmi regional moving from a transitional phase under new ownership to a fully-fledged standalone airline.
Lufthansa had taken control of the old BMI regional and mainline operations in 2009, taking its total stake to 80% after paying £318million for a 30% share.
IAG acquired the business in a £172.5million deal in April 2012, despite competition concerns raised by Sir Richard Branson and his Virgin Atlantic airline.
While IAG was happy to keep the mainline arm and integrate it into BA, it immediately sought a buyer for the regional services and threatened to axe them if it was unsuccessful.
The current owner of bmi regional, Sector Aviation Holdings, finalised its £8million acquisition of the business on June 1.
Its new chief executive has 30 years’ aviation expertise and joins the airline from BA, where he held the position of director, BA Gatwick, until recently.
He was previously managing director at BA CityFlyer and before that held senior management positions with BA Connect, British Regional Airlines Group and Manx Airlines.
As managing director of BMI after the IAG takeover, he lead the integration of the airline into BA and the subsequent transfer of bmi regional into independent ownership in 2012.