Stobart issues pre-close trading statement

victoria@aviationnews-online.com
By victoria@aviationnews-online.com September 6, 2017 12:48

Stobart issues pre-close trading statement

In a pre-close trading statement, Stobart Group, which owns Southend Airport, has reported good progress with passengers numbers up by 22% year on year. However, Chief Executive Warwick Brady recognizes that there is some short-term risk in aviation.

“In order to meet our aviation target we need to build a portfolio of airlines that will capitalise on London’s capacity constraints as well the large London catchment. This has taken longer than we originally envisaged. However, I am convinced that the overwhelming demand for additional airport capacity in London means we will ultimately meet this objective.”

In the five months to 31 July 2017, passenger numbers at London Southend Airport increased by 22% to 482,000. Stobart says that it continues to have “advanced talks with a view to introducing additional airlines to operate from London Southend Airport. This is taking longer than originally planned, with airlines’ planning schedules requiring a lead time of 6 to 18 months for investment in new operations.”

Meanwhile, the company is continuing to support new route development at London Southend Airport, through its franchise with Flybe operated by Stobart’s regional airline.

victoria@aviationnews-online.com
By victoria@aviationnews-online.com September 6, 2017 12:48