Esken, which was known as the Stobart Group until February, said it had become clear that the Ettyl suitor would not be able to close a deal, so he withdrew from the transaction.
The company then told Stobart Air’s board that it would withdraw support from its subsidiary, a move that has disrupted the travel plans of many people in the UK and Ireland.
Stobart Air’s board terminated its franchise agreement with Aer Lingus, which had helped operate flights to and from Dublin, Belfast, Manchester, Birmingham and Leeds, among others.
Aer Lingus flights to Heathrow are not affected by contract cancellation.
Esken said it would continue to finance the leases of eight planes until 2023, but will try to find someone to sublease the plane to.
He added: “The continuing impact of the pandemic, which has resulted in almost no flights since April 2020 and the decision by Aer Lingus to award preferred bidder status to another party for the franchise agreement beyond its expiration in December 2022 significantly hampered exhaustive steps. taken to secure a future for the company and its staff. “
Chief Executive Officer David Shearer said: “It is disappointing to all stakeholders that we have not been able to conclude the sale of Stobart Air as a going concern despite the tireless efforts of my fellow executives, the airline’s management team and the team of advisers who have supported them.
“I am well aware of the impact this will have on staff, customers and companies associated with the airline, but the continued impact of the pandemic in terms of lockdown and limited travel has prevented us from achieving a better outcome.”
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Source: www.yorkshirepost.co.uk
This notice was published: 2021-06-14 09:25:35
