page_title: Stobart Group
section_title: Stobart Air
hierarchical_section_title: Stobart Group / Current operations / Stobart Aviation / Stobart Air
caption_attribution_description: English: Stobart Air ATR 72-200 (EI-REH) at Glasgow Airport.
context_page_description: Stobart Group Ltd is a British infrastructure, aviation and energy company, with operations in the United Kingdom and Ireland. The company is registered in Guernsey but has its operational head office in London England.
  Stobart Group Ltd originally started in January 2002 as the Westbury Property Fund Limited, a closed-ended real-estate investment fund. In August 2006, realising that property prices were reaching the peak of the market, the Westbury Property Fund decided to re-position its portfolio towards the logistics sector, buying Weston Point Docks in Runcorn, AHC Warehousing and the rail operations of Victa Westlink Rail in March 2007. It then agreed an asset swap deal in August 2007 with the privately owned investment company WA Developments, whereby Westbury would sell 90% of its non-logistics related property portfolio to WA Developments in return for its Eddie Stobart Ltd subsidiary. Eddie Stobart Chairman Andrew Tinkler became CEO, whilst his brother-in-law, the Managing Director William Stobart became COO of the renamed Stobart Group, which subsequently diversified into other sectors.
context_section_description: On 11 October 2010, the Stobart Group announced that it was purchasing 35 convertible preference shares of €1 each in the parent company of the Irish airline Aer Arann, Everdeal Ltd, through its subsidiary Aer Arann UK Ltd, for €2.5 million, enabling it to have a 5% stake in the airline. Stobart Group had an option to increase its stake by a further 27.5% to 32.5%. At the same time, Aer Arann announced that it would start twice daily flights from Stobart Group's London Southend Airport to Galway and Waterford in Ireland from 27 March 2011.
  On 24 February 2017 Stobart Group completed 100% acquisition of Stobart Air, after purchasing the remaining 19% of Everdeal Holdings. Stobart Group also completed 100% ownership of Propius Holdings Ltd, the aircraft leasing firm through which many of the Stobart Air aircraft are sourced. In February 2018, it was reported that Stobart was considering purchasing 100% of Flybe for whom it currently operates flights from London Southend.
  On 11 January 2019, the Connect Airways consortium formed by Stobart Aviation and Virgin Atlantic announced a takeover bid for Flybe. The consortium initially lent £20 million to enable Flybe to continue operations, and also took over Stobart Air; after the acquisition completed it provided a further £80 million. The consortium's aim was to combine Flybe and Stobart Air with Virgin Atlantic to create an integrated carrier operating under the Virgin Atlantic brand. Flybe and Stobart Air would have however retained their own Air Operator Certificates and Stobart Air's other wet lease operations and its aircraft leasing business would have continued unchanged. Flybe's operating assets were transferred to Connect Airways on 21 February 2019, despite a last-minute rival bid.
  On 18 March 2020, Connect Airways entered administration.
  On 27 April 2020, Stobart Group bought back Stobart Air and Propius Leasing from Connect Airways administrators EY, for an initial payment of £300,000 and deferred consideration that could total £8.25 million.
caption: Stobart Air ATR 72
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