CARLISLE Airport owner Stobart Group has announced a £12.5m deal to acquire Invesco Asset Management's stake in its airline business, Stobart Air, and aircraft leasing business, Propius Holdings.
Propius owns the aircraft and leases them on a long term basis to the airline.
The move will increase Stobart's holding to in Stobart Air's holding company, Everdeal, to more than 80 per cent and is likely to be a precursor to the sale of the airline to the Irish operator CityJet.
Completion of the Stobart Air acquisition and the Propius transaction are both expected to occur in November.
Stobart Air, which operates Aer Lingus regional services under a franchise agreement, 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 indicated last year that it wanted to sell its stake.
The company is the second largest shareholder in Stobart Air behind Stobart Group.
It is not clear what, if any, impact a change of ownership at Stobart Air would have on plans for flights from Carlisle.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here