Summary
- The Bond brothers have decided not to sell Loganair after a year of searching for a new owner.
- Factors influencing their decision include supply chain issues and the opportunity to oversee a fleet renewal program and systems upgrade.
- Loganair plans to replace four aging Saab 340s with newer ATR 72-600s, offering more seats and enhancing its fleet.
A year after putting Loganair up for sale, the Bond brothers have decided to take the Scottish carrier off the market. Stephen and Peter Bond had initially looked to find a new custodian for the airline after a quarter of a century in charge, but have instead decided to stay involved for now amid a fleet renewal program.
The difference a year makes
It was almost a year ago to this day when the Bond brothers first announced their intentions to sell Loganair, with Simple Flying reporting on the matter on October 10th, 2022. At the time of the announcement, the carrier was performing well, having doubled its year-on-year revenue as it looked to recover from the pandemic.
Despite this strong performance, Stephen and Peter Bond, who were aged 72 and 61 years old respectively at the time, decided that it was the right time to step back and seek the carrier’s next custodian. In the aftermath of the decision, Loganair’s CEO assured residents of the Scottish Highlands and Islands that the carrier was committed to providing regional connectivity, even amid the sales efforts.
Photo: Travers Lewis | Shutterstock
However, almost exactly a year later, the Scottish airline has been taken back off the market by the Bond brothers. According to the BBC, it was originally envisioned that Loganair would have come into new ownership by the middle of 2023. Nonetheless, Stephen and Peter Bond aren’t in a rush, having now stated that:
“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.”
A time of change at the airline
There are several factors at play in the Bond brothers’ decision to halt the sale process, despite the Shetland Times noting that they were looking to retire when Loganair was put on the market. Among these are, according to the brother, “specific issues impacting the worldwide supply chain availability and costs.”
Photo: Jake Hardiman | Simple Flying
Furthermore, the decision to take Loganair off sale also allows its owners to fully oversee a fleet renewal program, which the BBC notes is planned to be completed in Q1 of 2024. This is running alongside a systems upgrade and refurbishment program for the carrier’s 13 Embraer ERJ145 regional jets. According to the BBC, a spokesperson for the Scottish airline offered the following statement:
“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.”
Turboprop swaps
In terms of Loganair’s aforementioned fleet renewal program, Shetland News reports that this will see it swap four Saab 340s for the same number of ATR 72-600s. Data from ch-aviation.com shows that the Saabs are 33.2 years old on average. Meanwhile, the incoming ATR 72s (three from Avianca and one from Azul) are between nine and 11 years old, as well as offering twice as many seats.
What do you make of Loganair being taken off sale? Have you ever flown with the Scottish carrier? Let us know your thoughts and experiences in the comments!
Sources: BBC, ch-aviation.com, Shetland News, Shetland Times