12 DECEMBER 2016
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The Stobart Group has responded to the end of negotiations with CityJet over possible collaboration by announcing it will launch flights from Southend Airport to up to 18 new destinations next summer.
The services will operate through Stobart’s existing franchise arrangements with Flybe, under which it operates a number of routes into northern Europe.
The company said: “The routes will be European destinations. Stobart is working on the network and the new arrangement will bring 600,000 passengers per annum to Southend.”
A statement recalled the Group had now acquired all the interests of Invesco Asset Management in its airline business, Stobart Air, and aircraft leasing business Propius Holdings and announced negotiations, which are progressing, to acquire the remaining 33% interest in Propius from Aer Lingus.
“Following these developments, the board of Stobart has reassessed its strategy for the aviation division, in particular its options for building new passenger routes at London Southend Airport and furthering the development of its Aer Lingus Regional franchise,” the company added.
“As a result, rather than proceed with a collaboration with CityJet, the group has taken the decision to operate flights from LSA to up to 18 new destinations through Stobart Air's existing franchise arrangement with Flybe.
“Negotiations with CityJet that could have resulted in a change in ownership of Stobart Air have been terminated.”
Seasoned Southend watchers have queried whether the 18 routes are possible.
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