Air France-KLM expects to sell Cityjet and its subsidiary VLM in the first quarter of 2014.
The group has received a firm offer from Germany's Aviation Gmbh to buy the Dublin-based regional airline, it revealed on Friday.
The amount Aviation Gmbh has agreed to pay for Cityjet and VLM has not been disclosed.
However, Air France-KLM said it expects the deal to complete in the first three months of the new year.
CityJet is also expected to close its London City to Luxembourg route in April, according to media reports.
Last week, it emerged that Cityjet will launch new routes from Cardiff to Glasgow and Paris next month (see news, December 20). Both routes are currently operated by Flybe.
Graham Smith