Stobart Air-2

[Sharklet_321]

So there are no guarantees then. Given what is going on right now I doubt that Aer Lingus will be able to prop them up. Perhaps they'll have to explore some sort of government buy out?

[EISNN]

Originally Posted by Sharklet_321

Perhaps they'll have to explore some sort of government buy out?

If you mean the Irish government there is not a snowballs chance of that happening. It’s not detrimental to the running of the Irish economy or Irish society in a major way.

[PDXCWL45]

Originally Posted by Sharklet_321

So there are no guarantees then. Given what is going on right now I doubt that Aer Lingus will be able to prop them up. Perhaps they'll have to explore some sort of government buy out?

Or just get Cityjet to replace them on the Aer Lingus regional contract.

[Sharklet_321]

PDXCWL45 now that would be interesting

[goldeneye]

Originally Posted by PDXCWL45

Or just get Cityjet to replace them on the Aer Lingus regional contract.

I’m sure they would be bidding for it once the contract was up for renewal anyway so could be a good shout.

[MCDU2]

Was the EI Regional work not ring fenced to avoid this exact type of scenario? I seem to remember Willy Walsh confirming as much in a recent interview. When EI was a listed company and embarked on the EI Regional tie up with Stobart I think there was a complex sale and leaseback agreement of which EI took a stake. I don't know if EI sold its stake in Propius but in anycase there would be no shortage of takers to fly the routes when demand returns if it unfolds that Stobart is unable to operate the regional work.

https://www.independent.ie/business/...-35358314.html

[ROKNA]

Originally Posted by MCDU2

Was the EI Regional work not ring fenced to avoid this exact type of scenario? I seem to remember Willy Walsh confirming as much in a recent interview. When EI was a listed company and embarked on the EI Regional tie up with Stobart I think there was a complex sale and leaseback agreement of which EI took a stake. I don't know if EI sold its stake in Propius but in anycase there would be no shortage of takers to fly the routes when demand returns if it unfolds that Stobart is unable to operate the regional work.

https://www.independent.ie/business/...-35358314.html

I believe Stobart group bought out the EI stake some time later

Good shout on Cityjet if they are still around they previously tried to tie up with Stobart in the past

[rowly6339]

Originally Posted by SWBKCB

Anybody heard from Mr Tinkler?

what has tinkler got to do with things?

[Buster the Bear]

The board of Aer Lingus Regional operator Stobart Air is locked in crunch talks with financial advisers, thrashing out options to save the business, the Irish Independent has learned.

Sources close to the situation said "all options are on the table", including potentially seeking court protection through an examinership if the board and independent accountants believe the company meets the criteria.

The situation creates major uncertainty for remaining workers at the Dublin-based airline, which before the coronavirus pandemic employed about 450 staff.

[Just a spotter]

From The Irish Times, 15th April 2020

Stobart is likely to seek protection from creditors and ask the High Court to appoint an examiner in coming days in a bid to extricate the business from difficulties it faces as a result of the travel bans that have grounded passenger flights. It is understood that the airline will apply to the court this week, or possibly next, depending on several factors.

https://www.irishtimes.com/business/...tion-1.4228950

JAS

[SWBKCB]

“The company confirms that it is reviewing all options in relation to the future of Stobart Air and Propius during this unprecedented time including the possibility of acquiring the businesses from the administrators,” Stobart Group says in a stock market statement, noting Stobart Air or Propius are not themselves currently in administration.

”A range of discussions are ongoing and there is no certainty that any transaction will take place,” it says. ”The board of Stobart Group believes that Stobart Air and Propius have a viable future after COVID-19 and that by working with Aer Lingus as franchise partner it can place the business on a secure footing and manage the impact of guarantee obligations in a controlled manner.”

Flight - Stobart Group ponders move to buy back regional operator

[asdf1234]

Originally Posted by SWBKCB

Flight - Stobart Group ponders move to buy back regional operator

I think you will find that this is Stobart Group trying to avoid the administrators of Connect calling in the Stobart Group guarantees for the sale and leaseback deal on the ATRs. The guarantees could easily bring Stobart Group to its knees if the administrator was to push for an immediate cash call.

[SARF]

Originally Posted by asdf1234

I think you will find that this is Stobart Group trying to avoid the administrators of Connect calling in the Stobart Group guarantees for the sale and leaseback deal on the ATRs. The guarantees could easily bring Stobart Group to its knees if the administrator was to push for an immediate cash call.

well that won't be happening anytime soon .. if there was ever a time to take the proverbial in business. this is it ...

[allan1987]

Stobart Group agrees to buy 49pc stake of Stobart Air for over €340,000

The UK’s Stobart Group has sealed a deal to buy a 49pc stake – and effective control – of Dublin-based Stobart Air for between £300,000 and £400,000 (€343,000 and €457,000).

https://www.independent.ie/business/...-39151870.html

[bean]

It's not effective control as the employee trust conyrol 51% I don't see how either party can expect to inject further funds to the airline in the forseeable future

[Buster the Bear]

https://uk.advfn.com/stock-market/lo...Air-a/82310366

[Jenny Tails]

It looks as though Stobart Air are looking at opening a base on the Isle of Man (presumably when this blows over).

They would be familiar with IOM after being based their twice for Flybe. The LPL and MAN routes are presumably worth their while. Although it appears Loganair currentt have a 145 and an ATR42 based there at present. Turf war?

https://m.independent.ie/business/ir...-39181134.html

[Fly757X]

Originally Posted by Jenny Tails

It looks as though Stobart Air are looking at opening a base on the Isle of Man (presumably when this blows over).

They would be familiar with IOM after being based their twice for Flybe. The LPL and MAN routes are presumably worth their while. Although it appears Loganair currentt have a 145 and an ATR42 based there at present. Turf war?

https://m.independent.ie/business/ir...-39181134.html

The ATR is there on-behalf of BACF. Could this new base be used for a franchise agreement between RE/LM? I could very well see it myself.

[JSCL]

Originally Posted by Fly757X

The ATR is there on-behalf of BACF. Could this new base be used for a franchise agreement between RE/LM? I could very well see it myself.

I don't see LM getting in to bed with Stobart. Utilising their own fleet is going to be their biggest upcoming problem, let alone using someone elses.

[flyerguy]

Originally Posted by Jenny Tails

It looks as though Stobart Air are looking at opening a base on the Isle of Man (presumably when this blows over).

They would be familiar with IOM after being based their twice for Flybe. The LPL and MAN routes are presumably worth their while. Although it appears Loganair currentt have a 145 and an ATR42 based there at present. Turf war?

https://m.independent.ie/business/ir...-39181134.html

Unless Stobart have a crystal ball and and have a psycic on the board of directors then I don’t understand where this has come from. They have no systems, they have ventured to the Isle of Man before, yes under flybe, so understand the operation. But the IOM government had them before COVID19 ready to operate flights and subsequently LPL/MAN went to Loganair. So I’m perplexed as to what they see, unless LM are pulling out.

my understanding is that Manchester route isn’t a ‘temp’ fix.