Scottish regional carrier Loganair’s shareholders Stephen and Peter Bond are to remain as owners of the company “for the foreseeable future” a year after detailing plans to look to sell their stake.
Last October it emerged the Bond brothers were appointing an advisor on a possible sale of the carrier. They have been part owners for more than 25 years and sole owners since 2012.
In a statement the brothers say: “The suspension of the sale process allows the company to complete the re-fleet programme and address the specific issues impacting the worldwide supply chain availability and costs.”
Loganair is in the process of replacing its remaining Saab 340 with ATR 72-600 turboprops. It now expects to complete this renewal with the replacement of the last four Saab 340s by the first quarter of next year, while it is in the process of refurbishing its Embraer 145 regional jets.
”There has never been a time-bound reason for the sale of Loganair, and we remain committed to the company until both the right time and custodian to acquire the company is chosen,” the Bond brothers say.
The airline says it continues to trade profitably and free of debt.