Business Irish

Sunday 22 October 2017

Brogan officially resigns as ceo of Stobart Air

Sean Brogan steps down from Dublin-based carrier
Sean Brogan steps down from Dublin-based carrier
John Mulligan

John Mulligan

Sean Brogan has officially resigned as chief executive of Dublin-based Stobart Air.

His planned departure was announced last month by the carrier, which operates the Aer Lingus Regional service.

Mr Brogan is understood to have tabled a management buyout offer Stobart Air, which had been up for sale with a rumoured price tag of about €65m.

Stobart Air is 45pc-owned by UK transport group Stobart. Invesco Perpetual owns 40pc, whole broker Cenkos owns 10pc. Former Aer Arann chairman Padraig O'Ceidigh owns 5pc.

Dublin-based airline CityJet is currently examining a possible acquisition of Stobart Air.

Such a deal would leave CityJet as a majority owner in the merged business, it's understood.

Stobart Air also operates some flights on behalf of UK regional carrier FlyBe. CityJet plans that eventually its wet leasing operations will account for about 60pc of its business and half its profits.

Irish Independent

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