Airlines Stobart Group could acquire Flybe

Stobart Group plans to bid as part of a consortium with an undisclosed partner, said the news agency in a report. Though, both Stobart and Flybe have denied a possible deal.

Flybe has struggled with its finances in recent years, with loosing GBP26.7 million net in 2016/2017. The airline is currently working on reducing its fleet to cut costs.

According to Reuters, Stobart is considering several potential structures for a take-over including a non-controlling interest in a vehicle to acquire 100% of Flybe. The value of a possible bid was not revealed. According to Reuters, the carrier is currently valued at nearly 105 million pounds.

In 2014, the group has established the airline Stobart Air, which is headquartered in Dublin, Ireland. The airline operates services for Flybe and Aer Lingus Regional with ATR-42, ATR-72 and Embraer 195 aircraft. Stobart Air also operates regional flights from Isle of Man Airport to Birmingham, Liverpool and Manchester.

Stobart´s aviation division already operates flights for Flybe from London Southend Airport to Budapest, Dublin, Glasgow, Groningen, Lyon and Cologne. Originally, Stobart Group is a infrastructure and support services company, which is also active in the energy, and rail sector in the United Kingdom and Ireland.

Flybe is a British airline, based in Exeter, England. The carrier operates regional flights with ATR 42/72s, Bombardier Dash 8-400s, Embraer 175s and Embraer 195s. Over 81 destinations are being served on 216 routes. In total, Flybe flies to 18 countries.