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Stobart Air blames Covid for collapse

The Irish airline Stobart Air collapsed, went into liquidation and was the victim of a crisis involving the aviation during a coronavirus pandemic.

Charter carriers have accused the “continuing impact of the pandemic” because they announced they would shut down because they couldn’t find a buyer.

Founded in 1970 using turboprop aircraft along the west coast of Ireland, Stobart has grown into a relatively important player on European short-haul charter flights.

Prior to the pandemic, it operated more than 900 flights a week on 30 routes across Western Europe, but was forced to shorten its schedule by 94% during the crisis.

Recently, we only operate regional flights on behalf of Aer Lingus. Several flights from Belfast and Dublin airports were canceled on Saturday as a result of their collapse.

Formerly known as the Esken Group, Esken announced in April that it would sell Stobart Air and Carlisle Lake District Airport to the Isle of Man-based company Ettyl, but the following month, funding issues delayed the deal. I warned.

On Saturday, Stobart Air said funding for the deal was “no longer in place and new owners are currently unable to close the deal.”

“Given the continued impact of the pandemic, which has effectively stopped air travel since March 2020, Stobart Air’s board of directors will appoint a liquidator in the absence of alternative buyers or sources of funding. We have to make the necessary, inevitable, and difficult decisions we need to make, “the company said.

Carlisle Airport, which is not currently handling flights, will be maintained and “all options” will be considered for the future, Esken said.

The aviation industry has endured the worst crisis in history, with border closures and government regulations severely restricting travel.

Major listed airlines have been able to raise billions of pounds to protect themselves from the recession, but players in smaller areas with no access to major sources of funding are becoming more vulnerable. ..

Flybe collapsed last spring at the beginning of the crisis, but Cardiff Airport has continued to operate with cash support from the Welsh government.

Stobart Air blames Covid for collapse Source link Stobart Air blames Covid for collapse

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