Deal being considered
Stobart ponders acquisition of Flybe airline
Flybe: potential new owner
Haulage and airport operator Stobart Group is considering a takeover of regional airline Flybe.
A takeover is one of a number of confirmed options which helped trigger a rise in Flybe’s shares by 36% in afternoon trade.
In a statement, the board of Stobart Group said: “Stobart Group and Flybe have a range of shared interests arising from Stobart Group’s ownership of London Southend Airport and its aircraft leasing company and the growing franchise arrangements between the two groups’ airlines.”
The company has been reviewing alternative structures for its airline and leasing business that may come into play in the consolidation of the regional airline sector.
Stobart, which bought London Southend Airport in 2008, added that it was too early to say whether a transaction will take place.
In November, Flybe reported a near-50% fall in first half profits after previously warning that earnings would be lower than expected.