Stobart Group confirms plans to sell Stobart Air

The UK's Stobart Group has confirmed it's in talks to sell Dublin-based Stobart Air, which operates the Aer Lingus Regional service, to leasing firm Falko. The stock market-listed Stobart Group confirmed it's in negotiations with UK-based Falko, which also controls Dublin airline CityJet, and other potential suitors. Stobart Group, whose CE is Warwick Brady, has previously said it eventually planned to exit its involvement in Stobart Air. "We can confirm that we are in early stage discussions with a number of parties, including Falko Regional Aircraft, regarding the potential sale of Stobart Group's stake in Stobart Air and Propius," it said in a statement to the stock market Friday. "There can be no certainty that any transaction will be forthcoming or whether acceptable terms will be agreed," Stobart Group added. A deal to sell Stobart Air to Falko could ultimately be worth more than E20m. It would also almost certainly lead to a tie-up between Stobart Air and Dublin-based CityJet, which recently exited examinership and is controlled by Falko.<br/>