General Industry

Stobart Air Owners to Sell Airline in 2016

By Steve Wynne-Jones
Stobart Air Owners to Sell Airline in 2016

Stobart Air, operators of Aer Lingus Regional services, may come up for sale in the new year as its main shareholder is considering selling its stake.

According to the Irish Times, British transport group Stobart and investment manager and broker Invesco, who own 85 per cent of the airline's shares, have been considering selling for some time.

It is understood that another investment fund taking over would be the preferred option should the deal go ahead. Stobart Air chief executive Seán Brogan recently told staff it is “working closely with our executive to help position us for the next stage of investment”.

The carrier recorded a profit for the frost time since it was taken over by new investors in 2010. It is expected to carry 100,000 passengers in 2016.