Southend airport owner Stobart Group has confirmed rumours that it is considering a number of options for a potential acquisition of regional airline Flybe.
Stobart Group also runs Stobart Air and has several shared interests with Flybe, including the group’s aircraft leasing company and a range of franchise agreements between the two airlines. There has been much speculation in the press over potential take-over bids.
In a statement made yesterday afternoon, the board of Stobart Group said it was considering several options, including the potential to “acquire 100 per cent of Flybe”. However, the group commented that it is too early to definitively say whether a deal will take place and would make further announcements “in due course”.
Flybe reported a drastic drop in profits last November and made a pledge to cut costs. Since then, it has been reducing the number of routes it operates, most notably in Scotland, and has seen a growth in passenger revenue as a result.
stobartgroup.co.uk; flybe.com