Stobart seeks new Aer Lingus agreement ahead of sale

Stobart Group, which owns Stobart Air and London Southend airport, has reiterated its intention to sell Stobart Air, remarking that the trading outlook for the airline has deteriorated significantly since the capital raise due to the continued quarantine arrangements in Ireland, with limited flights operating. At the time of the capital raise in June 2020, Stobart Group planned for a potential no-fly scenario through the winter period and said that it had consequently taken appropriate action to manage its cost base and minimise cash burn. Adding that it intends to exit the business in “early course”. To that end, it