British Airways has sold its no-frills airline Go to venture capitalists 3i in a deal worth £100 million ($1.3 million). The UK's flag carrier will net a further £10 million if 3i sells the carrier within five years. The current management, headed by Barbara Cassani, remains in place and along with other employees has a 22% stake in the airline. The Stansted-based carrier, which was started three years ago, was sold by BA because it no longer fitted the airline's full-service strategy.
Source: Flight International