Loganair Halts Sale, Appoints New CEO Amidst Return to Profitability
The UK's largest regional airline, Loganair, is no longer for sale after its owners decided to halt the process to ensure company stability. This decision coincides with the appointment of Luke Faraj as the new chief executive. The airline also announced a significant financial turnaround, reporting a pre-tax profit of £10.9 million for the year ending in March 2023. This marks a substantial recovery from the £5.6 million loss recorded in the previous year. The owners, brothers Stephen and Peter Bond, had initially put the airline up for sale in October 2022.
Official Source: https://www.bbc.com/news/articles/cwy2pz95ql1o?at_medium=RSS&at_campaign=rss