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I'm guessing that all these changes will ultimately result in a slight increase in flights for SEN, and still doesn't totally rule out an additional based aircraft either.
Last edited by tws123; 6th Oct 2016 at 16:28.
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No SEN stats yet
I see that on the CAA passenger stats for June and July, Southend is one of the few airports whose figures are not shown. Is this because nobody in the office has sent them in or what other reason?
It's all gone very quiet recently. No more news on Stobart Air/CityJet?
It's all gone very quiet recently. No more news on Stobart Air/CityJet?
tophat27dt
The June and July stats are still not available for around 15 and 35 airports respectively so SEN is far from alone in this. It's believed to be the new outsourcing of the production of the stats by the CAA which is causing these delays.
As far as the Cityjet takeover of Stobart Air is concerned there has not yet been an announcement nor any official indication of the effect it will have at SEN.
The June and July stats are still not available for around 15 and 35 airports respectively so SEN is far from alone in this. It's believed to be the new outsourcing of the production of the stats by the CAA which is causing these delays.
As far as the Cityjet takeover of Stobart Air is concerned there has not yet been an announcement nor any official indication of the effect it will have at SEN.
With Stobart Groups half-yearly results to be reported on 27th October I wonder if the Cityjet/Stobart Air deal announcement will coincide with that.
An analyst from investment bank Stifel has suggested ".... there could be room for further surprises when the results are published."
An analyst from investment bank Stifel has suggested ".... there could be room for further surprises when the results are published."
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With a Cityjet/Stobart announcement due soon, Flybe's summer timetable coming any day and possible new routes from easyjet, there sure is a heady mix in the air surrounding SEN.
Oh, not forgetting all those other airlines still queuing up............
Oh, not forgetting all those other airlines still queuing up............
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From what i have read about Cityjet, they are pursuing ventures with other airlines and to fly on their behalf. The low cost benefits of the Sukhoi make it now a very tempting solution for regional flights.
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."
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.
Express - sorry if this sounds a but stupud but I don't really understand Stobart Group's strategy behind this. Ignoring the corporate PR waffle, would you perhaps be able to explain the hard-nosed rationale for this purchase ? I'd like to believe there's more to this than someone playing Fat Controller with a newctrainset... !
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I'll be interested in EF's response too. Is it too straightforward to assume that because Stobart Air's credibility with its shareholders rests to some degree with its ability to achieve 2.5 million pax at SEN by 2018 the taking of a 66.6% ownership of Propius is intended to help this in some way? Owning 80% of Everdeal should allow Stobart Air to more effectively dictate new routes. I suspect that some of the previous investors aren't so sanguine about the prospect of new routes from SEN, so by taking over their shareholding Stobart has the leverage to go ahead......
davidjohnson6
Obviously I don't know what the Stobart Group strategy is in this context. It could just be that by acquiring these interests now it will make any pending merger/takeover deal with Cityjet easier to complete with Invesco out of the picture. Alternatively it would obviously allow Stobart Air the freedom to commence new routes of its choosing without a Cityjet deal.
Although I have my thoughts on what will happen I don't think it would be helpful to make these known at this point in the process.
Obviously I don't know what the Stobart Group strategy is in this context. It could just be that by acquiring these interests now it will make any pending merger/takeover deal with Cityjet easier to complete with Invesco out of the picture. Alternatively it would obviously allow Stobart Air the freedom to commence new routes of its choosing without a Cityjet deal.
Although I have my thoughts on what will happen I don't think it would be helpful to make these known at this point in the process.
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The piece that will be interesting in the merger of Cityjet and Stobart is what role the Flybe franchise will play. To date it would not appear to be the most ideal relationship, while supporting the Flybe brand on a selection of routes ex SEN and then the ops ex IOM, Flybe went into competition on Stobart Air routes, e.g. most notable CWL-DUB. It would seem illogical that Flybe want to create financial challenges for its customer ....
We will see how this pans out and I would be interesting to know how is the relationship between Stobart and Flybe? Is it time to move forward with a bigger brand for the Southend operation, i.e. BA? Of course that would have to be what BA would want, but it could be a move worth considering. I suggested this at the outset before the Flybe announcement was made... The new jets may also open up new opportunities.
We will see how this pans out and I would be interesting to know how is the relationship between Stobart and Flybe? Is it time to move forward with a bigger brand for the Southend operation, i.e. BA? Of course that would have to be what BA would want, but it could be a move worth considering. I suggested this at the outset before the Flybe announcement was made... The new jets may also open up new opportunities.
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The Stobart/Flybe franchise has another 3 years left to run, after which they could probably switch it over to a Stobart/CityJet franchise potentially (should they be operating from SEN at this point)?
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Owning 80% of Everdeal should allow Stobart Air to more effectively dictate new routes. I suspect that some of the previous investors aren't so sanguine about the prospect of new routes from SEN, so by taking over their shareholding Stobart has the leverage to go ahead
The Irish Independent story says that the sale by Invesco of its interests in Propius and Everdeal to Stobart Group paves the way for Stobart Air to be sold to Cityjet. So it does seem that these transactions are simply a part of the process for the takeover of Stobart Air by Cityjet.