Esken, the aviation and energy infrastructure group, has stated that the proposed sale of its entire shareholdings in Stobart Air Unlimited Company (which operates regional flights under a franchise agreement for Aer Lingus) and Stobart Air (UK) Limited, the owner of Carlisle Lake District Airport, to Ettyl may be in doubt since Ettyl's proposed financing for the transaction is no longer available. Ettyl is progressing discussions with another potential financing source, however.
Esken has stated that it is investigating these matters and seeking further information, including with regard to the impact this may have on the ability of Ettyl to finance the transaction and obtaining the change of control consents required in order to complete the transaction. Esken is discussing this matter with its lending banks given banking facility consent for the sale has been obtained.
Esken says that a further announcement will be made when appropriate.