Loganair has confirmed its owners are no longer looking to sell the Scottish independent carrier.

In October 2022 the airline announced that Stephen and Peter Bond had decided to sell up after 25 years, but with no deal having coming to fruition the brother have decided to halt the process.

In a statement Loganair said that Stephen and Peter “will remain as owners of the company for the foreseeable future, and are fully supportive of its progress and continued development – just as they have been over 25 years of engagement with Loganair”.

The carrier also said that it “continues to trade profitably and free of debt”, and expects to complete its fleet renewal by the first quarter of 2024, with the final four Saab 340 turboprop aircraft leaving its fleet “following delayed delivery of larger ATR72-600 Next Generation turboprops”.

In addition Loganair has begun a refurbishment programme of its 13 Embraer 145 aircraft, which will be completed over the next 12 months.

Commenting on the news Stephen and Peter Bond said that “the suspension of the sale process allows the Company to complete the re-fleet programme and address the specific issues impacting the world-wide supply chain availability and costs”.

“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,” they added.

Earlier this year Loganair extended its codeshare partnership with British Airways, adding a total of 11 new routes including Aberdeen to Newcastle, Belfast City to Dundee, London Heathrow to Dundee and Southampton to Stornoway.

British Airways extends codeshare agreement with Loganair