The difference between the two is vast, your new design is a great improvement all round IMO, cleaner typography, good structure, and clear communication of the sites purpose and focus. The new design fits with the bmi branding and the better for business strapline too
My only small reservation on first impressions was the background colour that's been used, but on viewing the main site I can see why this has been used.
Nice job Andy
PS- Does the company you work for specialize in airline branding?! Or in-flight magazines?