BMA on course for share float

BRITISH Mediterranean Airways, which flies to all sorts of out of the way places, may soon land on the stock market. It has hired banker NM Rothschild to advise options, including a sale or float. These might value it at £50m.

Tory peer Lord Hesketh, BMA's chairman, owns 18%, potentially worth £9m. Chief executive Des Hetherington could be worth several million. Former Thatcher aide Lord Powell could get £2m.

BMA, founded in 1994, has seven leased Airbus jets, which fly to global hot spots - Iran, Ethiopia, Syria, the Lebanon. It has a franchise from British Airways and uses BA uniforms, livery and codes. The attraction for BA is its lower costs.

BMA expects operating profits of £6m in the year just ended, on £84m sales.