Via Yahoo Finance

(Reuters) – British aviation and energy infrastructure group Stobart <STOB.L> said on Friday it was in early-stage discussions for the potential sale of its stake in regional airline Stobart Air and its leasing firm Propius.

The company, which bought back Stobart Air and Propius in April from the administrators of Connect Airways, said aircraft lessor Falko Regional Aircraft Ltd was one of the interested parties.

The news was first reported by the Irish Independent, which said on Friday the acquisition could be worth more than 20 million euros ($24 million) and that Falko could assume some of Stobart Group’s liabilities that are linked to Stobart Air.

Stobart, which owns and operates London Southend Airport, sold Stobart Air in 2019 to Connect Airways, the owner of the collapsed regional airline Flybe that became one of the first big corporate casualties of the coronavirus outbreak.

In a bid to offset a hit from the crisis, Stobart said in June that it would exit its rail and civil engineering business this fiscal year.

(Reporting by Samantha Machado in Bengaluru; Editing by Shounak Dasgupta and Maju Samuel)

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