Industry

Published on April 20th, 2021 | by Alan Dwyer

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Ettyl Agrees to Buy Stobart Air

Isle of Man based company, Ettyl Ltd., has agreed to buy Stobart Air in a statement released this morning. It will also acquire the Carlisle Lake District Airport from Esken Ltd. Esken is the new name for the Stobart Group which came into effect in February this year. Last year Stobart Air reduced its workforce due to the impact of Covid-19 on travel. The airline continues to operate the Aer Lingus Regional franchise for Aer Lingus and currently only has two Public Service Obligation (PSO) routes from Dublin to Kerry and Donegal along with six routes from Belfast City Airport to UK Regional airports. Esken put the airline up for sale last year, along with Carlisle Airport. The company also own Southend Airport near London. Carlisle Airport is currently closed due to the COVID-19 restrictions and does not have any scheduled services. Ettyl also says that it intends to retain all staff currently employed by Stobart Air and Carlisle Lake District Airport.

A statement from Stobart on the deal said, “Stobart Air is pleased that this transaction is now concluded and a new owner of the airline is in place. This transaction is a significant testament to, and endorsement of, the value Ettyl see in our airline, in our product, in the service we provide and importantly, in our people. Given the role we play and the service we provide in franchise flying and delivering regional connectivity, there is significant opportunity for growth and network development as we continue to operate the existing Aer Lingus Regional franchise through to 31st December 2022.”

Also commenting on the acquisition, Jason Scales, Chief Executive Officer of Ettyl Limited said, “We are delighted to have signed agreements for these acquisitions. In the immediate term, it will be very much business as usual in respect of both Stobart Air and Carlisle Lake District Airport’s operations and our deal ensures that the great teams within those businesses are retained. We will be making further announcements over the coming weeks and months regarding our plans. Ettyl sees significant opportunities for increased regional connectivity as economies recover from the impacts caused by the pandemic and return to stability across the UK and Ireland.”

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