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Stobart Group In Talks To Sell Aer Lingus Regional Service Operator Stobart Air

Published on Sep 7 2020 10:40 AM in General Industry tagged: Trending Posts / Stobart Air / Stobart Group

Stobart Group In Talks To Sell Aer Lingus Regional Service Operator Stobart Air

Stobart Group has said that it is in talks to sell both Aer Lingus Regional service operator Stobart Air and aircraft leasing business Propius.

The Irish Independent quotes Stobart Group as saying, "We can confirm that we are in early stage discussions with a number of parties, including Falko Regional Aircraft, regarding the potential sale of Stobart Group's stake in Stobart Air and Propius.

"There can be no certainty that any transaction will be forthcoming or whether acceptable terms will be agreed."

Potential Deal Value

The Irish Independent understands that a deal to sell Stobart Air to Falko, which controls CityJet, could be worth over €20 million, and that the value of an agreement to purchase Stobart Air will depend on whether the carrier secures an extension of its existing Aer Lingus franchise contract, which expires in 2022.

© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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