Air France has put its regional subsidiary CityJet up for sale and has shortlisted six potential investors.
The Ireland-headquartered carrier says that this number will be whittled down to two by the end of March, with both prospective buyers then being asked to submit final bids with a view to a new owner being announced by May or June.
Air France excluded CityJet from a regrouping of its other regional subsidiaries, Brit Air, Régional and Airlinair, into a new airline dubbed Hop in January and had been conducting a review of its future.
Following its own restructuring CityJet had a "slightly negative" operating result in the quarter ended 31 September 2012 according to Phillipe Calavia, Air France-KLM chief financial officer.
With headquarters in Dublin, the majority of CityJet's operations are from London City airport.