Esken Limited (ESKN)

Sector:

Commercial Transport

Index:

FTSE Small Cap

13.50p
   
  • Change Today:
      0.66p
  • 52 Week High: 37.63
  • 52 Week Low: 12.06
  • Currency: UK Pounds
  • Shares Issued: 1,025.34m
  • Volume: 849,866
  • Market Cap: £138.42m
  • RiskGrade: 367

Aer Lingus to end Stobart regional deal in 2023

By Frank Prenesti

Date: Monday 16 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Irish airline Aer Lingus has dropped Stobart Air as its regional services operator from 2023, it was announced on Monday.
Stobart has been trying to find a buyer for the Irish operation, described by chief executive Warwick Brady as a "strategic and attractive" asset.

It currently runs flights from Dublin, Cork, Shannon, Donegal and Kerry across 43 routes in 11 European countries and has been operating for eight years on behalf of Aer Lingus, part of IAG.

Brady said the Aer Lingus decision was "disappointing" but the division would still suit a potential buyer as it had "a number of options open to it in terms of continued operations beyond its current franchise agreement with Aer Lingus".

Stobart is still in talks with a "number of interested parties" and said it hopes to agree its exit from Stobart Air by the end of February.

"Stobart Air can also leverage its valuable slot portfolio, and its position as Europe's largest and most experienced operator of ATR aircraft and enter negotiations with the new Aer Lingus franchisee given the anticipated interest in those assets," Brady said.

Most of Stobart's fleet is currently grounded amid the collapse in airline travel due to the coronavirus pandemic, placing a cash strain on the business due to ongoing lease agreements on aircraft.

The company added that it can still exercise its right to an early break clause for the lease agreement of eight ATR aircraft in April 2023 at a cost to the Group of $21.2m plus finance and maintenance costs.

This would allow it to exit its pre-existing parent company guarantees, Stobart said.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Esken Limited Market Data

Currency UK Pounds
Share Price 13.50p
Change Today 0.66p
% Change 5.14 %
52 Week High 37.63
52 Week Low 12.06
Volume 849,866
Shares Issued 1,025.34m
Market Cap £138.42m
RiskGrade 367

Esken Limited Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
8.15% below the market average8.15% below the market average8.15% below the market average8.15% below the market average8.15% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Price Trend
98.42% below the market average98.42% below the market average98.42% below the market average98.42% below the market average98.42% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
17.66% below the market average17.66% below the market average17.66% below the market average17.66% below the market average17.66% below the market average
Sector averageSector averageSector averageSector averageSector average

Esken Limited Dividends

  Latest Previous
  Final 2nd Interim
Ex-Div 20-Jun-19 27-Dec-18
Paid 31-Jul-19 31-Jan-19
Amount 3.00p 1.50p

Trades for 21-Sep-2021

Time Volume / Share Price
16:35 1,703 @ 13.50p
16:29 745 @ 13.38p
16:29 484 @ 13.18p
16:28 455 @ 13.10p
16:28 39 @ 13.06p

Esken Limited Key Personnel

COO Nick Dilworth
CFO Lewis Girdwood

Top of Page