Stobart Air-2
Join Date: Sep 2019
Location: Ireland
Posts: 122
Likes: 0
Received 0 Likes
on
0 Posts
New Route Belfast to East Midlands: Leicester Mercury 
Thread Starter
Join Date: Mar 2012
Location: Cheshire
Age: 44
Posts: 225
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Nov 2007
Location: Northern Ireland
Posts: 199
Likes: 0
Received 0 Likes
on
0 Posts
CityJet owner Falko in talks to acquire Stobart Air
https://amp.independent.ie/business/...-39502051.html
Looks like could be CityJet, Stobart Air and Air Nostrum all in one Regional Airline Group
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.
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.
Looks like could be CityJet, Stobart Air and Air Nostrum all in one Regional Airline Group
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.
"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.
Join Date: Nov 2007
Location: Northern Ireland
Posts: 199
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.
"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.
Seeing that Stobart Group need money it will a quick sale
And there is more than just one company interested in buying Stobart Air.
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
Join Date: Jul 2006
Location: UK
Age: 75
Posts: 2,624
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.
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.
Yes indeed, I’m struggling to understand that myself!
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.
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.
Join Date: Jul 2006
Location: UK
Age: 75
Posts: 2,624
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.
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.
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.
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.
Join Date: Apr 2016
Location: Essex
Posts: 1,169
Likes: 0
Received 0 Likes
on
0 Posts
Whatever the outcome you can be sure it’s unlikely to meet with the approval of Andrew Tinkler.
“Facts 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 🆘”
“Facts 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 🆘”
Join Date: Nov 2007
Location: Northern Ireland
Posts: 199
Likes: 0
Received 0 Likes
on
0 Posts
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?
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 ...
