Talks begin on change of ownership at Stobart Air 

Stobart Air operates the Aer Lingus Regional service

British aviation and energy infrastructure group Stobart is in early-stage discussions for the potential sale of its stake in regional airline Stobart Air – which operates the Aer Lingus Regional service – and its leasing firm Propius.

The company, which bought back Stobart Air and Propius in April from the administrators of Connect Airways, said aircraft lessor Falko Regional Aircraft was one of the interested parties. Falko is the owner of Irish airline CityJet.

Earlier this month, CityJet exited examinership after the High Court here formally approved a survival scheme for the airline. It meant that the airline was able to retain 140 jobs. 

It had previously employed more than 400 people at its Dublin base.

The Stobart stake acquisition is estimated to be worth more than €20m.

Stobart, which owns and operates London Southend Airport, sold Stobart Air in 2019 to Connect Airways, the owner of the collapsed regional airline Flybe that became one of the first big corporate casualties of the coronavirus outbreak.

In a bid to offset a hit from the Covid-19 crisis, Stobart Group said in June that it would exit its rail and civil engineering businesses this fiscal year.

- Reuters and Irish Examiner