The sale of Loganair (LM, Glasgow International) has been halted temporarily by co-owners Stephen and Peter Bond due to supply chain issues and costs, the airline confirmed.
"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 brothers said in a joint statement, adding that they will remain owners for the foreseeable future and support the airline's progress and continued development.
The pair had initially put Loganair up for sale in October 2022 with the intention of retiring. However, they now say that "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".
A company spokesperson elaborated that "Loganair continues to trade profitably and free of debt" and said the fleet renewal programme was expected to be completed by the first quarter of 2024, with the airline's final four Saab 340Bs leaving the fleet following the delayed delivery of four larger ATR72-600s.
"A multi-million-pound refurbishment programme and upgrade of on-board systems for Loganair's thirteen Embraer E145 regional jets is also underway and will be completed over the next 12 months," he added.
The fleet also includes five ATR42-500s, two ATR42-600s, four ATR72-500(F)s, five ATR72-600s, one DHC-6-300, two DHC-6-400s, and one stored EMB-135ER, according to the ch-aviation fleets module.
