Stobart Air for sale?

LSE listed Stobart Group has confirmed it is considering selling Dublin-based Stobart Air and is in talks with "a number" of interested parties.

Stobart Air operates for Aer Lingus its regional services and much will depend on what happens with the contract which is not due to expire until 2022.  New IAG boss Luis Gallego will have a view on things.

"Our AGM statement on July 30, 2020 stated that we had commenced early discussions with potential partners around the long-term future of Stobart Air," Stobart Group said in a stock market filing.

Last week, The Irish Independent said the UK-based engineering and Southend Airport operator was in "advanced" talks with Irish lessor Falko Regional Aircraft, now the owner of the remnants of CityJet.

At present, CityJet's only major contract is with SAS for which it currently operates 11 CRJ900s.

www.stobartair.com

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