The International Airlines Group that owns the company have made no secret that they dont want it, and so unless a buyer can be found, hundreds of people could be out of work by september.
For information on the changes and cancellations to bmibaby flights following the news that the low cost airline will close in September click here.
ITV Central Business Correspondent Mark Gough on the bleak future facing low cost airline bmibaby
People arriving at East Midlands Airport give their reaction to the news that bmibaby is set to close in September.
ITV Central's Business Correspondent Mark Gough tells Central Tonight the background to low cost airline bmibaby's problems.
The Midlands based company looks set to end all flights by September.
East Midlands and Birmingham airports are planning for a future without bmibay after the low cost airline said it is set to close in September
All bmibaby flights to and from Belfast will stop from June 11.
bmibaby services from East Midlands to Amsterdam, Paris, Geneva, Nice, Edinburgh, Glasgow and Newquay and from Birmingham to Knock and Amsterdam, will cease on the same date.
Customers have been told they can continue to book summer holiday flights from East Midlands and Birmingham.
Full details are on the company's website.
The company says all bmibaby flights from Monday September 10 onwards will no longer operate and those flights are no longer available.
“We recognise that these are unsettling times for bmibaby employees, who have worked tirelessly during a long period of uncertainty.
“bmibaby has delivered high levels of operational performance and customer service, but has continued to struggle financially, losing more than £100m in the last four years.
"In the consultation process, we will need to be realistic about our options.
– Peter Simpson, bmi interim managing director.
“To help stem losses as quickly as possible and as a preliminary measure, we will be making reductions to bmibaby’s flying programme from June.
We sincerely apologise to all customers affected and will be providing full refunds and doing all we can with other airlines to mitigate the impact of these changes.”