Stobart Group buys Invecso share of Stobart Air and Propius
It's been announced this morning that Stobart have acquired the whole of Invesco's 33.3% interest in Propius, the leasing company that owns the Stobart Air/Aer Lingus Regional fleet, for £12 million. Following this Stobart will own 66.6% of Propius with Aer Lingus owning the remainder.
Stobart has also agreed to conditionally buy up to 40% of Invesco's shareholding in Everdeal, the holding company of Stobart Air, for £0.5 million after which Stobart will own approximately 80% of Everdeal.
The announcement concludes "These transactions will enhance flexibility in building new passenger routes at London Southend Airport with the aim of increasing passenger numbers to a run rate (sic) of over 2.5 million by 2018."
Last edited by Expressflight; 19th Oct 2016 at 07:08.