Stobart eyes up aviation business restructure for new investors
UK transport and energy group Stobart is eyeing a new structure for its aviation unit that will enable it to bring on board potential investors if it seeks to capitalise on consolidation in the European aviation sector, chief executive Warwick Brady has confirmed.
Speaking as Stobart released interim results, Mr Brady declined to say what specific structure is envisaged.
"It's looking at alternative financial structures that put us in the best position to not miss out on any consolidation," Mr Brady said. "If there is consolidation, we don't want to miss out. We're a small player. We've only got 17 airplanes, going to 20 airplanes," he said. "We've got a strong balance sheet, but the question is, what other financial partners could effectively be part of our structure that would support any transaction?"