Loganair (LM, Glasgow International) chief executive Jonathan Hinkles has confirmed the Scottish regional airline is up for sale, with new owners sought by mid-2023, after its current owners decided to retire from the business.
“After 25 years as investors in Loganair – initially as part-owners and since 2012 as sole owners – Stephen and Peter Bond have decided to appoint advisors to review options for the sale of Loganair. It could see them hand over the stewardship of Scotland’s airline to new owners by mid-2023,” Hinkles said in a statement shared with ch-aviation.
“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 are 50% ahead of pre-pandemic levels, and our fleet renewal programme is also well advanced, continuing apace over the coming months.”
“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 whole-hearted supporters of Loganair until any process is successfully concluded.”
"Stephen is now 72 years of age and wishes to step back from day-to-day business. That's really the beginning, middle, and end of the story right there," Hinkles explained further on social media.
"With Loganair performing strongly as the UK's largest regional airline, our fleet renewal programme entering the home straight and soon to publish annual results which surpass those of any other UK airline which has reported thus far, our airline is firmly set on the most positive of paths for the future," he added.
The helicopter entrepreneur Bond brothers were minority shareholders since 1997 and sole owners since 2012. They reportedly provided the regional carrier with substantial financial support during the Covid pandemic and have appointed Arrowpoint Advisory to review options for the sale of Loganair.
According to the ch-aviation fleets, Loganair operates to 35 destinations and on 74 routes, with a fleet of 44 aircraft comprising a mix of ATR - Avions de Transport Régional, De Havilland Canada, Embraer, and Saab (Sweden) aircraft.
