Michael David Bishop, Baron GlendonbrookCBEAM (born 10 February 1942) is a British-Australian businessman and life peer who rose to prominence as owner of the airline BMI. He sold his stake in the airline to Lufthansa on 1 July 2009 and (as of 2008[update]) had an estimated personal fortune of £280 million.[3] He was one of the UK's first openly gay senior executives.[4]
Early life
Michael Bishop was born in Bowdon, Cheshire. The son of a factory boss, he was given a pleasure flight at the age of six. In 1949 his parents took him on an Aer Lingus flight to Dublin in search of chocolate, a rarity during post-war rationing.[5]
In 1963, Bishop joined the ground handling operation of Manchester-based Mercury Airlines, a schedule and charter airline, which was taken over by British Midland Airways (later re-branded as BMI) in October 1964. Bishop joined British Midland, and rose to become General Manager of the airline in 1969 and managing director in 1972.
In 1978, the London-based Minster Assets investment group, which owned British Midland, decided to sell its stake. With the help of an entrepreneurial Californian dentist, Bishop raised £2.5 million to lead a management buyout, and was subsequently appointed chairman. He later said: "I had to borrow the money from an American citizen. Most venture capitalists want a return of 40% to make up for all their other failures, and they want an exit strategy."[5] From 1969 he was the key driving force behind the steady growth of the airline, which held 11% of the landing and take-off slots at London Heathrow Airport, second only to British Airways,[6] and had a route network spanning Europe, North America, Asia and Africa.
Bishop formerly held a controlling 50% + 1 share stake of BMI, with German airline Lufthansa holding 30% minus 1 share, and SAS Airlines a further 20%. In October 2008, under a deal agreed in 1999 as part of the package for BMI to join the Star Alliance,[6] Bishop agreed to sell his 50% stake to Lufthansa for an undisclosed sum, though reports suggested it was about £318m.[7] BDLH (Lufthansa's holding vehicle) acquired Bishop's share on 1 July 2009, assuming full control of the company.
Honours and appointments
Between 1991 and 1993, Bishop was deputy chairman of Channel 4 television, becoming chairman from 1993 to 1997.[8] He was also a board member at Sir Nigel Rudd's Williams plc., and deputy chairman at Airtours.[6]
Coat of arms of Michael Bishop, Baron Glendonbrook
Crest
A nightingale singing Or grasping with the dexter foot a flute erect Gules.
Escutcheon
Argent three dahlia flowers Gules seeded Or slipped and leaved Vert.[17]
Supporters
Dexter a pegasus Argent winged Or sinister a kangaroo Or.
Personal life
Bishop is openly gay and, since 2008, has spoken out publicly about gay rights[18] and success in the workplace.[19] He is often referred to as "dapper" by the press, to note his keen sense of elegance.
Bishop lives in London and at Bruern Abbey, West Oxfordshire. Since purchasing the 18th-century country house on the Bruern site in 2013, he has completely refurbished it, installing a "large and impressive cantilever stone staircase and twenty-five kilometres of data cabling" and an underground car park.[22]
^Taylor, Jerome (19 August 2008). "A revolution in the boardroom". The Independent. London. Archived from the original on 12 May 2022. Retrieved 2 November 2008.
