ESKN Esken Limited

 

TIDMSTOB 
 
RNS Number : 1419U 
Stobart Group Limited 
11 October 2010 
 
 
11th October 2010 
 
Stobart Group reaches conditional five year operating agreement with Aer Arann 
at Southend Airport 
 
Stobart Group has agreed terms for a five year operating agreement with Aer 
Arann to use London Southend Airport, for flights starting in March 2011, with 
volumes expected to grow to 300,000 passengers annually. As part of the overall 
investment agreement with others, Stobart Group will invest EUR2.5 million to 
incentivise and market Aer Arann's operation from London Southend Airport. The 
offer remains conditional on certain terms being satisfied including Aer Arann 
successfully exiting Examinership. The company and the Examiner will be working 
to eliminate these conditions and it is hoped that the company could exit 
Examinership before the end of the month. 
 
The association with Aer Arann, which is a household name in Ireland, would 
further strengthen and develop Stobart's position in the Irish market which has 
grown from no presence to a EUR40m business in two years. Stobart Group is 
receiving a growing number of enquiries from customers for airfreight services 
and alignment with Aer Arann offers potential to explore opportunities in the 
future. 
 
"This is a pragmatic deal that has multiple advantages for the Group.  Firstly 
it would guarantee business and volume that will underpin acceleration of our 
development plans for London Southend Airport. Secondly it will further develop 
the Stobart business and brand in Ireland. Thirdly the alignment with Aer Arann 
provides future opportunities for the growing demand for airfreight from our 
customers." Commented Andrew Tinkler CEO Stobart Group.  "Although the agreement 
provides Stobart with a small stake in the form of a convertible preference 
share in Aer Arann, it does not signal that we are getting into the airline 
business and we would not be involved in the day-to-day management of Aer Arann 
- they have a skilled management team in place to do that led by Padraig 
O'Ceidigh." 
 
ENDS 
 
About Stobart Group 
Stobart Group is listed on the London Stock Exchange in the FTSE250 (LSE:STOB), 
and is the UK leader in multimodal transport and logistics solutions.  It is one 
of the most recognised and strongest brands in Britain, best known for its 
iconic Eddie Stobart trucks. Today, Eddie Stobart is the name behind a road 
haulage fleet totalling 1,850 trucks and over six million square feet of 
cutting-edge warehousing facilities.  By size, Eddie Stobart has the best 
vehicle utilisation in the industry, helping to maximise efficiency and 
environmental benefits. 
 
The Group has pioneered several environmental initiatives in the industry such 
as modal shift from road to rail with the Stobart Rail low-carbon service that 
brings fresh produce into the UK from southern Europe via the Channel Tunnel. 
Stobart is also innovating with the creation of Stobart Biomass Products 
Limited, a new venture with A.W. Jenkinson - the UK leader in biomass fuels. 
This positions the Group at the heart of the fast growing and transport 
intensive market for renewable energy. 
 
Stobart Group employs over 5,000 people in 40 different locations, offering 
multimodal logistics solutions to customers across Europe through the Stobart 
Rail, Stobart Ports, Stobart Air and Eddie Stobart Divisions. The Group is fast 
developing these divisions into industry leaders, and by developing assets such 
as London Southend Airport, Carlisle Lake District Airport and Mersey Multimodal 
Gateway in Widnes, is creating new business for the Group's core transport and 
logistics operations. 
 
www.stobartgroup.com 
 
Further information: 
 
Stuart Dyble                            e: stuart@influenceltd.com 
  t: 07599 835 700 
 
James Andrew                        e: james@influenceltd.com                t: 
07772 534 985 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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