IAG has managed to offload bmi regional to an aviation consortium, Sector Aviation Holdings, for £8 million cash.
The sale includes all bmi regional’s fixed assets and long-term liabilities, including owned and operating lease aircraft.
If approved by the CAA, ownership is expected to be transferred to SAH within two weeks.
IAG chief executive Willie Walsh said: "This deal provides a future for bmi Regional and should secure around 330 jobs".
Sector Aviation is a consortium of businessmen, including the team previously known as Granite Aviation, led by Ian Woodley.
The business is being funded by Stephen and Peter Bond who are also investors in Loganair.
The acquisition has been warmly welcomed by the SPAA, particularly amid reports that the new owners plan to develop the route network.
President Kevin Thom said: "There is real strength-in-depth in the new ownership and management team of bmi regional.
"The new owners are known for their commitment to the area, and it augurs well for the future of this vital network of business and leisure air services from Scotland’s northeast, and for the job security of several hundred hardworking employees.
"It’s an excellent outcome – for Scotland’s travellers and the Scottish economy – and one that we warmly welcome. We’re confident our Members will do all they can to continue and strengthen their long-established support of bmi Regional, under the new ownership."
IAG acquired bmi regional last month when it bought bmi and its subsidiaries from Lufthansa.
It has yet to find a buyer for low-cost subsidiary bmibaby, which is due to cease operating from September.
by Bev Fearis
