Scottish airline Loganair is being sold with the hope of new owners taking over the business by mid-2023.
The company confirmed that advisers had been appointed to find a buyer for the Glasgow-based business.
It is the UK's largest regional airline, operating for more than 60 years, with over 900 staff and flying to more than 40 destinations.
Owners Stephen and Peter Bond, who are brothers, have been sole owners of the company since 2012.
However, previous to that they partly owned it for a further 15 years.
Loganair's chief executive Jonathan Hinkles said: "The airline is trading profitably and has repaid its Covid-19 bank debt ahead of schedule.
"It will very much continue to operate as it is today, with no changes to routes, services or employment.
"Passenger numbers are growing and 50% ahead of pre-Pandemic levels, and our fleet renewal programme is also well advanced, continuing apace over the coming months."
He added: "The Bonds - Stephen is now 72, Peter is 61 - are committed to finding the right future owner for Loganair, who will act as its custodian for the next generation, just as they and previous owners have done.
"In the meantime, they remain wholehearted supporters of Loganair until any process is successfully concluded."
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