Dublin-based Stobart Aviation May Become Separate Entity To Parent Group
It's being reported that UK transport and energy group Stobart is considering turning its Dublin-based Stobart Aviation unit into a separate entity.
According to The Irish Independent, the group announced last week that it was in the process of assessing potential new structures for its aviation arm which would allow the unit to secure investment for the purpose of pursuing consolidation opportunities.
Stobart Air, which was acquired fully by the Stobart Group from minority shareholders Invesco Perpetual, Cenkos and former Aer Arann chairman Pádraig Ó Céidighin in 2016, currently runs the Aer Lingus Regional service on a franchise basis. The company is due to launch a new Dublin to London Southend service on Flybe's behalf this weekend.
Stobart CEO Warwick Brady told The Irish Independent that the group didn't want to "miss out" on opportunities for consolidation if they arose, but did not reveal what the new structure might be.