Bids were entered by Bahrain’s Mena Aerospace Enterprises, Canada’s CAE, and Oxford Aviation Academy of the UK.

The airline’s chief executive officer Bjorn Naf unveiled the plan fore the academy earlier this summer (MEED 6:9:08).

The deal is part of a restructuring plan. The sale of the business will raise cash and reduce overheads, while providing services that will be in strong demand throughout the regional aviation sector.