Stobart Air uses liquidators Business

Thousands of passengers are at risk of being stranded following the collapse of one of the largest regional airlines operating between Britain and mainland Ireland.

Stobart Air, which operates a chain of short-haul services and services on behalf of Aer Lingus, British Airways and KLM, has ceased operations and is appealing for liquidators.

As a result, Aer Lingus flights from Belfast to Leeds Bradford, Edinburgh, Exeter, Manchester, East Midlands and Birmingham have been canceled.

Connections from Edinburgh, Glasgow, Manchester and Newquay to Dublin are also declining, as are Irish domestic routes from the capital to Donegal and Kerry.

Insolvency follows the collapse of the airline’s sale by London listed owner Esken to Ettyle, a company created by Isle of Man cryptocurrency entrepreneur Jason Scales

Mr Scales had previously agreed to buy the airline for a nominal amount of £ 2.

Esken, formerly known as Stobart Group, said: “It is now clear that Ettyl is unable to complete the transactions on the original terms or secure alternative financing on time.

“Esken therefore exercised its right to terminate contracts for transactions with immediate effect.

“In the absence of buyers or alternative sources of financing for the SA [Stobart Air] company on time, Esken informed SA’s board of directors that it will not continue to provide financial support to the company in the future.

“As a result, the board of directors of SA has terminated its franchise agreement with Aer Lingus, will cease operations and is taking steps to appoint a liquidator.”

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This notice was published: 2021-06-12 10:58:49

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