A DEAL to sell the airline behind plans for scheduled flights from Carlisle Airport could be sealed this week.
Reports in the Irish press say that Stobart Air, which operates Aer Lingus regional services, is on the verge of being sold to Irish operator CityJet.
The deal would create one of Europe's largest regional airlines.
Stobart Air has tabled plans to start daily passenger flights from Carlisle to London Southend, Belfast and Dublin.
But its future ownership has been in doubt since the investment house Invesco Perpetual indicated last year that it wanted to sell its 40 per cent stake.
The company is the second largest shareholder in Stobart Air behind Stobart Group, which owns 45 per cent of the business and is also the owner of Carlisle Airport.
Options included a management buyout and a sale to the Dublin-based Aviation Finance Company, only for CityJet to emerge as front runner.
A report in the Irish Independent suggests that the aviation financing group Falko, which is supported by affiliates of funds managed by Fortress Investment Group, is closely linked to the deal potentially worth 80m euro (£69m).
It says that CityJet is preparing to base aircraft at London Southend Airport, which like Carlisle is owned by Stobart Group, and that Stobart Air and CityJet will continue to operate as separate entities for the time being at least.
Stobart Air was previously known as Aer Arann, and was acquired out of examinership – the Irish equivalent of administration – by Stobart Group and its investment partners in 2010.
It is not clear what, if any, impact a change of ownership at Stobart Air would have on plans for flights from Carlisle.
The Government confirmed last November that proposed routes from Carlisle to London Southend, Belfast and Dublin are among five to share a £7m start-up subsidy for new services from regional airports.
At present, Stobart Group says, “developments at Carlisle airport are continuing as before”.
Chief executive Andrew Tinkler has said that scheduled flights from Carlisle could start next spring.
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