Airlines, Airports & Routes Topics about airports, routes and airline business.

Stobart Air-2

Old 26th Aug 2020, 19:19
  #601 (permalink)  
 
Join Date: Sep 2019
Location: Ireland
Posts: 117
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by Red Four View Post
New Route Belfast to East Midlands: Leicester Mercury
This along with five other routes was announced weeks ago.
DUB19 is online now  
Old 4th Sep 2020, 16:19
  #602 (permalink)  
Thread Starter
 
Join Date: Mar 2012
Location: Cheshire
Age: 43
Posts: 225
Likes: 0
Received 0 Likes on 0 Posts
Talks on the sale of Stobart Air begin

https://www.proactiveinvestors.co.uk...us-928344.html
rowly6339 is offline  
Old 4th Sep 2020, 19:48
  #603 (permalink)  
 
Join Date: Nov 2007
Location: Northern Ireland
Posts: 194
Likes: 0
Received 0 Likes on 0 Posts
CityJet owner Falko in talks to acquire Stobart Air
The Stobart Group plans sale of the Aer Lingus Regional operator

The UK's Stobart Group is in advanced talks to sell its Dublin-based Stobart Air unit, which operates the Aer Lingus Regional service, to aircraft lessor Falko, the Irish Independent has learned.

It's believed that the deal could ultimately be worth more than €20m.
https://amp.independent.ie/business/...-39502051.html

Looks like could be CityJet, Stobart Air and Air Nostrum all in one Regional Airline Group
allan1987 is offline  
Old 4th Sep 2020, 20:22
  #604 (permalink)  
 
Join Date: Aug 2008
Location: bishops stortford herts
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
How many more rolls of the dice for most of those?

"Regional Airline Group" sounds rather grandiose...The impression with Stobart Air is that it is a fire sale/required sale for the Stobart Group to relieve itself of debt that has accrued with it`s miscalculations in the Airport & Airline divisions over the period.

A deal would be dependent on Stobart Air retaining the EIN franchise of course & perhaps IAG/EIN will push for an even tougher deal themselves now.
southside bobby is offline  
Old 5th Sep 2020, 01:14
  #605 (permalink)  
 
Join Date: Nov 2007
Location: Northern Ireland
Posts: 194
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by southside bobby View Post
How many more rolls of the dice for most of those?

"Regional Airline Group" sounds rather grandiose...The impression with Stobart Air is that it is a fire sale/required sale for the Stobart Group to relieve itself of debt that has accrued with it`s miscalculations in the Airport & Airline divisions over the period.

A deal would be dependent on Stobart Air retaining the EIN franchise of course & perhaps IAG/EIN will push for an even tougher deal themselves now.
It depends if the CityJet Air Nostrum merger still goes ahead.
Seeing that Stobart Group need money it will a quick sale
And there is more than just one company interested
in buying Stobart Air.
allan1987 is offline  
Old 5th Sep 2020, 01:22
  #606 (permalink)  
 
Join Date: Sep 2008
Location: Blighty
Posts: 5,082
Likes: 0
Received 1 Like on 1 Post
Can somebody explain to me why anyone would want to buy a small regional ACMI airline without any substantive public-facing brand right now when air travel demand is unlikely to return to 2019 levels for at least a few years
davidjohnson6 is online now  
Old 5th Sep 2020, 07:28
  #607 (permalink)  
 
Join Date: Jul 2006
Location: UK
Age: 74
Posts: 2,582
Likes: 0
Received 0 Likes on 0 Posts
southside bobby

It isn't so much that Stobart Group urgently need the cash from selling Stobart Air as that situation has eased following the recent shareholder fundraising exercise. The problem is that the past Propius fleet sale and leaseback deal left the Group with a future substantial potential financial liability - that's why they bought Stobart Air back from the Connect Administrators. That aspect will need to be passed on to Falko for the deal to go ahead.
Expressflight is offline  
Old 5th Sep 2020, 08:14
  #608 (permalink)  
 
Join Date: Feb 2018
Location: UK
Posts: 226
Received 1 Like on 1 Post
Originally Posted by davidjohnson6 View Post
Can somebody explain to me why anyone would want to buy a small regional ACMI airline without any substantive public-facing brand right now when air travel demand is unlikely to return to 2019 levels for at least a few years
Yes indeed, Iím struggling to understand that myself!
Atlantic Explorer is offline  
Old 5th Sep 2020, 09:19
  #609 (permalink)  
 
Join Date: Aug 2008
Location: bishops stortford herts
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
Stobart raised £100m from "investors" in June to shore up its balance sheet.
Propius is another aspect of the financial mire associated with the Groups pretty disastrous foray into aviation.
The rail business has already been unloaded for a nominal sum.
Common factors in play with the latest revelations are Dublin-a familiarity between all & both operators loaded with debt which Falko seemingly is not adverse to.
The only "prize" at eye level viewing appears to be the IAG/EIN franchise.
A pertinent question possibly given the stated desire/need of the Stobart Group to exit Stobart Air where next if the "deal" falls through coupled with IAG/EIN playing extreme hardball re the franchise renewal as WW at IAG signaled previously would be the case.
southside bobby is offline  
Old 5th Sep 2020, 09:55
  #610 (permalink)  
 
Join Date: Jul 2006
Location: UK
Age: 74
Posts: 2,582
Likes: 0
Received 0 Likes on 0 Posts
southside bobby

As you say, it is important that the Group can dispose of Stobart Air/Propius in a fashion that relieves them of the potential financial liabilities and without an EIN franchise renewal, or extension at the very least, that will be difficult. Of course CityJet/Air Nostrum were, if I remember correctly, the main competitors to Stobart Air in that regard. Maybe EIN would see a sale to Falko as being in their best interests as well. They naturally want a stable franchise partner and this could be the best way of achieving that.
Expressflight is offline  
Old 5th Sep 2020, 10:29
  #611 (permalink)  
 
Join Date: Aug 2008
Location: bishops stortford herts
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
WW seemed to indicate a search for a franchise partner does not have to be limited.
CityJet regarded as a competitor with/for the franchise so perhaps they/Falko are looking to "eliminate" the incumbent eventually in the negotiations for a nominal sum along with Falko assuming debt which in their business affairs they are not averse to.
Perhaps break clauses in the Franchise can ultimately be effected before 2022 but IAG/EIN hold all the cards.
Anyways it appears the revolving doors will be working overtime in Dublin.
southside bobby is offline  
Old 5th Sep 2020, 11:15
  #612 (permalink)  
 
Join Date: Apr 2016
Location: Essex
Posts: 1,118
Likes: 0
Received 0 Likes on 0 Posts
Whatever the outcome you can be sure itís unlikely to meet with the approval of Andrew Tinkler.

ďFacts Warwick Brady CEO in the last 2 years has lost S/H £762m a average of £31.7 per month this must be close to winning him a OBE. Well done Stobart Chairman & Board of directors you all deserve a Medal for your efforts for protecting Stakeholder value 🆘Ē

DC3 Dave is offline  
Old 5th Sep 2020, 11:32
  #613 (permalink)  
 
Join Date: Aug 2008
Location: bishops stortford herts
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
Good point re Mr T...He is obviously in the wings (pun acknowledged) observing & waiting...waiting.

That`s an awful lot of money.
southside bobby is offline  
Old 5th Sep 2020, 16:13
  #614 (permalink)  
 
Join Date: Jan 2005
Location: On the banks of the Crouch
Posts: 170
Likes: 0
Received 0 Likes on 0 Posts
To be fair to Warwick Brady, Coronavirus has thrown a really large spanner into Stobartís finances.
southender is offline  
Old 5th Sep 2020, 19:45
  #615 (permalink)  
 
Join Date: Nov 2007
Location: Northern Ireland
Posts: 194
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by southside bobby View Post
Good point re Mr T...He is obviously in the wings (pun acknowledged) observing & waiting...waiting.

That`s an awful lot of money.
https://www.investegate.co.uk/stobar...041540381219Y/

Since more than one party is interested

Im sure Mr T is wanting Stobart Air

I would hazard a guess and say might at one party interested could be T3 as they are looking for a code share for Teesside to Heathrow Route
and that would make it easier to get EIN franchise extended?
allan1987 is offline  
Old 5th Sep 2020, 20:20
  #616 (permalink)  
 
Join Date: Nov 2006
Location: Ireland
Age: 82
Posts: 6
Likes: 0
Received 0 Likes on 0 Posts
And Aer Lingus seems to have had a very good experience with ASL Airlines operating B757s for it transatlantic and ASL seems to have a good reputation with the likes of DHL operating a wide range of aircraft types ...
Bradan feasa is offline  
Old 5th Sep 2020, 20:53
  #617 (permalink)  
 
Join Date: Apr 2009
Location: UK
Posts: 489
Likes: 0
Received 0 Likes on 0 Posts
Lets not mention the ASL 737 in BHD though.....
MCDU2 is offline  
Old 6th Sep 2020, 14:54
  #618 (permalink)  
 
Join Date: May 2017
Location: Belfast
Posts: 692
Likes: 0
Received 0 Likes on 0 Posts
It wasn't great but not the worst idea.
Alteagod is offline  
Old 6th Sep 2020, 20:29
  #619 (permalink)  
 
Join Date: Mar 2008
Location: LV
Posts: 2,153
Likes: 0
Received 0 Likes on 0 Posts
Unlikely, but could IAG show any interest given that a lot of the EI regional routes are DUB feeders? Terrible timing though.
CabinCrewe is offline  
Old 29th Sep 2020, 06:37
  #620 (permalink)  
 
Join Date: Aug 2008
Location: bishops stortford herts
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
independent.ie reporting EIN regional ops have now gone out to tender.
southside bobby is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell or Share My Personal Information

Copyright © 2023 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.