Stobart share price
Stobart Group is a group of diverse operating companies of which the airport is just one part. On its own the performance of the airport cannot adversely affect the share price to the extent seen recently.
Yes, the inability to begin to repay the huge investment in the airport will have a cumulative effect on the downwards pressure on the share price but the overwhelming factor is the inability of the group as a whole to provide dividends to shareholders out of trading profit. Most of the dividend is being paid for out of the proceeds of the disposals of assets.
Another factor seems to be the market's concern regarding over-valuation of real estate (including the airports) on the group's balance sheet.
Contributing factors are statements by the chairman telling investors that a brand new airport needs to cut costs when most investors assumed a brand new airport would be managed from day one on a lean cost model.
It's not easy running an airport!