Loganair Put Up For Sale

[In The News]

DALLAS – Brothers Stephen and Peter Bond have announced that they are to sell their Scottish airline Loganair (LM).

The brothers, 72 and 61 years old respectively, have owned the carrier for 25 years and helped Loganair to become the UK’s biggest regional operator.

Passing on the Baton

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Peter Simpson, LM’s Executive Chairman, told The Sunday Times newspaper, “It’s been a success story in terms of where we’ve got to, and the shareholders now feel it’s the right time to pass the baton onto new owners.”

The airline has a proud Scottish heritage which was highlighted when the airline became an independent carrier again in 2017 after 24 years of franchise operations. Photo: Loganair.

Arrowpoint Advisory have been appointed to look for a buyer. However, city analysts have said that the airline may have a relatively low value due to the current uncertainty in the aviation industry and LM’s thin profit margins.

This comes after the airline doubled revenues to £161 million (US$178.5m) and posted earnings of £9 million (US$9.9m) in the year to March 2022. It is now forecasting revenues of £240 million (US$266m) and earnings of over £15 million (US$16.6m) for the current financial year.

Humble Beginnings

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The Bond brothers took over the running of Loganair from British Midland (BD) in 1997. At the time, LM had a fleet of just one, 18-seater de Havilland Twin Otter and five, eight-seater Britten Norman Islanders in its fleet, plus just 44 employees.

LM Britten Norman BN-2A Islander (G-BJOP). Photo: Loganair.

Today LM has a fleet of 42 aircraft, including the ATR-42, de Havilland DHC-6 Twin Otter and Embraer ERJ-135 and -145 regional jets. It currently operates a network of around 80 routes across the UK, Ireland and Norway and has recently announced a bumper summer 2023 schedule.

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Featured Image: The Bond brothers have controlled the airline since the management buyout from British Midland (BD) in 1997. Photo: Loganair.

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