Stobart Group has reached agreement with EY, the administrators of Connect Airways Limited, to acquire Stobart Air and leasing firm Propius for £8.5 million. Propius is an aircraft leasing business that leases its eight ATR aircraft to Stobart Air. Stobart Air operates regional flights under a franchise agreement for Aer Lingus along with the provision of charter and wet lease operations. The businesses were owned previously by Stobart Group and were sold to Connect – a JV between Stobart Group, Virgin Atlantic and Cyrus Capital Partners – in February 2019 to form the now defunct Flybe airline. Stobart Group is a guarantor
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