Stobart Air blames Covid for collapse

Stobart Air has collapsed and will enter liquidation, becoming a casualty of the crisis that has engulfed aviation during the coronavirus pandemic. The charter carrier blamed the “continuing impact of the pandemic” as it announced it would cease operations after failing to find a buyer.  Founded in 1970, using turboprop aircraft along Ireland’s west coast, Stobart grew to become a relatively significant player in European short-haul charter flying. Before the pandemic it operated more than 900 flights a week on 30 routes throughout western Europe, but it was forced to reduce its schedules by 94 per cent during the crisis. It has most recently only been operating regional flights on behalf of Aer Lingus. Esken, formerly known as Stobart Group, in April announced it would sell Stobart Air and Carlisle Lake District Airport to Isle of Man-based company Ettyl, but the following month warned the transaction was delayed following financing problems.  On Saturday Stobart Air said the funding for the deal “is no longer in place and the new owner is now unable to conclude the transaction”. “Given the continued impact of the pandemic which has virtually halted air travel since March 2020 and in the absence of any alternative purchasers or sources of funding, the board of Stobart Air must take the necessary, unavoidable and difficult decision to seek to appoint a liquidator,” the company said. <br/>