The UK’s largest regional airline Loganair has been put up for sale.
Scottish brothers Stephen and Peter Bond, who have owned the business for the last 25 years, are looking for new owners for the Glasgow-based business.
Arrowpoint Advisory has been appointed to seek potential buyers.
The company flies 44 aircraft to more than 40 destinations across Europe and the British Isles - with up to 1,000 flights a week - and employs more than 900 people.
During the year to the end of March, the airline doubled revenues to £161m, backed by earnings of £9m, as it recovered from pandemic downtime. It is forecasting revenues of £240m and earnings of more than £15m in the current financial year.
Chief executive Jonathan Hinkles told the PA news agency: “The airline is trading profitably and has repaid its Covid-19 bank debt ahead of schedule.
“It will very much continue to operate as it is today, with no changes to routes, services or employment.
“Passenger numbers are growing and 50% ahead of pre-pandemic levels, and our fleet renewal programme is also well advanced, continuing apace over the coming months.”
He added: “The Bonds - Stephen is now 72, Peter is 61 - are committed to finding the right future owner for Loganair, who will act as its custodian for the next generation, just as they and previous owners have done.
“In the meantime, they remain wholehearted supporters of Loganair until any process is successfully concluded.”
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