Esken to sell Stobart Air Unlimited and Stobart Air UK to Ettyl
Tue, 20th Apr 2021 11:58
(Alliance News) - Esken Ltd on Tuesday said it has signed an agreement for the sale of Stobart Air Unlimited Co and Stobart Air UK Ltd to Ettyl Ltd.
Stobart Air operates regional flights under a franchise agreement for Air Lingus and Stobart Air UK owns Carlisle Lake District Airport. Ettyl is an Isle of Man-based company backed by private investors.
Esken, an infrastructure, aviation and energy company formerly known as Stobart Group Ltd, said Ettyl will acquire Esken s economic interests in Everdeal 2021 Ltd and Everdeal Employees 2019 Ltd, who are both shareholders in Stobart Air Unlimited. Ettyl will buy Esken s interests for a token GBP2, plus the value of any cash on the balance sheet payable at completion.