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Scottish airline Loganair has said it is no longer up for sale, after it was put on the market last year.

Brothers Stephen and Peter Bond, who have had sole-ownership of the business since 2012, will remain as owners.

In October 2022, the Glasgow-based airline said that advisers had been appointed to find a buyer.

Loganair is the largest regional airline in the UK, operating for more than 60 years, with over 900 staff flying to more than 40 destinations.

When the business was put up for sale, it had been hoped that new owners would take over by mid-2023.

Stephen and Peter Bond said: "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 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 programme 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."