The UK's largest regional airline Loganair is up for sale with the hope being that new owners will take over the business by mid-2023, BBC News has reported.
The news website confirmed that advisers have been appointed to find a buyer for the Glasgow-based business. Brothers Stephen and Peter Bond have been sole owners of the company since 2012, and prior to that they partly owned it for a further 15 years.
Loganair has been operating for more than 60 years, with over 900 staff and flying to more than 40 destinations.
The BBC quoted Loganair's chief executive Jonathan Hinkles as saying: "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."
In September this year, Loganair said it was scrapping almost 300 flights after the airline confirmed it is suspending all operations at Cornwall Airport Newquay over the winter.
The decision means Loganair has no presence at the site between November 2022 and March 2023, and affects three routes to Scotland. The daily services to Aberdeen Airport, via Manchester, will be axed, as will non-stop flights to Edinburgh and Newcastle.