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By Cirium2021-06-01T12:41:00+01:00
The proposed sale of regional operator Stobart Air and Carlisle Lake District airport has hit turbulence after the buyer’s proposed financing for the deal fell through.
Esken, which rebranded from Stobart Group, agreed in April to sell Stobart Air Unlimited Company, which operates regional flights under a franchise agreement for Aer Lingus, and Stobart Air (UK) Ltd, the owner of Carlisle Lake District airport to Isle of Man-based investment firm Ettyl.
Source: Shutterstock
Stobart Air currently operates flights under a franchise agreement with Aer Lingus
Prior to the completion of the sale of Esken further agreed to take back 100% ownership of aircraft leasing company Propius, for £1. The energy and transport company agreed to retain responsibility for the continuing lease obligations of Propius under the existing lease arrangements until April 2023.