Esken in ‘advanced talks’ with Isle of Man firm over Stobart Air sale
Esken – formerly Stobart Group – has today confirmed that it is in “advanced talks” with Isle of Man-based Ettyl over the sale of Stobart Air.
The firm has been looking to offload the regional carrier in recent months, having only bought back the airline from bankruptcy last April.
Alongside a sale of the airline, which operates services for Aer Lingus, BA Cityflyer and KLM Cityhopper, the two are also discussing the sale of Carlisle Airport.
Esken, which also runs assets such as London Southend airport, had aimed to sell the carrier by the end of the last financial year.
However, efforts were knocked off course when Aer Lingus snubbed the carrier when renewing its regional operator contract, choosing newcomer Emerald Airlines instead.
Esken is understood to be especially keen to rid itself of about $100m worth of liabilities connected to Stobart Air.
Little is known about Ettyl, which was founded last year to “connect the Isle of Man by air”. According to Companies House, the firm has just one director, a Jason Scales, who describes himself as a “serial entrepreneur” on LinkedIn.
City PM has approached Ettyl for comment.
In a statement, Esken added: “There can be no certainty that an agreement will be reached or that the transaction will conclude as it remains subject to final contract matters and approvals.
“The Company will make a further announcement as and when appropriate.”