International Airlines Group, parent of British Airways and Iberia, said Thursday that it had agreed to sell recently-acquired carrier bmi Regional to the Scottish consortium Sector Aviation Holdings.
"IAG has signed a binding agreement to sell bmi Regional to Sector Aviation Holdings Ltd for a total consideration of £8 million ($12.9 million, 10 million euros) in cash," it said in a statement.
"The sale includes all bmi Regional's fixed assets and long-term liabilities, including owned and operating lease aircraft."
Ownership of bmi Regional -- which operates 18 Embraer regional jets on scheduled services across Britain and northern Europe -- is expected to be transferred within two weeks.
"This deal provides a future for bmi Regional and should secure around 330 jobs," IAG chief executive Willie Walsh said.
IAG last month bought loss-making European airline bmi, including its regional operations, from German airline Lufthansa.
IAG has said that another bmi regional carrier, bmi Baby, would stop flying in September.