Stephen and Peter Bond, the brothers and owners of Scottish airline company Loganair, have decided to offload the company, reported.

The owners are said to have set a target to divest their airline business by mid-2023.

Flying to more than 40 destinations, Loganair has been operating as the UK’s largest regional airline for more than six decades.

Since 2012, Stephen and Peter Bond have been the sole owners of the airline company.

Earlier, the duo partly owned the company for a period of 15 years.

Loganair CEO Jonathan Hinkles was quoted by BBC as saying: “The airline is trading profitably and has repaid its Covid-19 bank debt ahead of schedule.

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“It will very much continue to operate as it is today, with no changes to routes, services or employment. Passenger numbers are growing, and 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.”

For managing the sale process, the airline company owners hired London-based merger and acquisition specialists Arrowpoint Advisory, stated Simple Flying.

In February, British Airways and Loganair expanded their codeshare alliance.

The agreement added another 18 routes, helping British Airways customers gain access to 38 of Loganair’s UK routes.