The sale of Loganair has been put on hold by its majority investors.
Owners Stephen and Peter Bond have halted the process to find new owners for the Glasgow-based carrier.
Their decision to hold off on any sale of the UK regional airline was due to “specific issues impacting the world-wide supply chain availability and costs”.
In a statement, they said they will remain as owners of the company for the foreseeable future.
“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 owners reportedly said.
They added they were fully supportive of its progress and continued development.
The pair put Loganair up for sale in October 2022, saying they would both look to retire.
They said the “suspension of the sale process” would allow them to complete a fleet renewal programme, which is expected by the first quarter of 2024.
A multi-million pound refurbishment and upgrade of systems for Loganair’s 13 Embraer 145 regional jet aircraft is also underway.
The airline said it will be completed over the next 12 months.
A Loganair spokesperson said: “Loganair continues to trade profitably and free of debt – and Loganair’s management team welcomes Stephen and Peter’s ongoing commitment to supporting the airline, with which they have been involved for over 25 years.”
Loganair returned to profitability in the financial year to March 31, 2022 following losses in each of the previous two years due to the pandemic. The airline reported a pre-tax profit of almost £5 million on a turnover of £161 million last October.
The airline operates a network of more than 70 routes throughout the UK, the Isle of Man, Ireland, Norway and Denmark.