Thursday 18 January 2018

All change at the top for high-flying Stobart Air

Chairman of Stobart Air Sean Brogan
Chairman of Stobart Air Sean Brogan
John Mulligan

John Mulligan

Stobart Air, formerly Aer Arann, has reshuffled its board with the appointment of former BMI Baby boss Julian Carr as managing director of the airline.

Former Ryanair commercial director Tim Jeans has also been appointed a non-executive director of Stobart Air.

Sean Brogan, who's been interim chief executive at Stobart Air since 2012, has been named chairman at the airline. It's thought he will continue to play a key role in shaping Stobart Air's future strategy.

He has overseen a significant rejuvenation of the carrier's fortunes.

Instrumental to its turnaround was the inking of a 10-year franchise agreement with Aer Lingus, which sees Stobart Air operate services under the Aer Lingus Regional brand. Stobart Air also recently signed a franchise agreement with UK airline Flybe.

Mr Carr will take up his role on May 6. He is joining from National Amusements, where he was chief executive of the company's UK operations. US-based National Amusements operates a string of cinemas across America, Britain and other countries.

Mr Carr was formerly a managing director and commercial director of BMI Baby. He was appointed MD of the carrier in 2010, having joined in 2008.

He had previously worked with the International Air Transport Association in Canada and was also involved in the launch of British low-cost carrier Jet2.com.

Also joining the Stobart Air board as a non-executive director is Yvonne Deeney. She's a finance and investment consultant and was previously a CIO and director of reinsurance firm GE Re. She's also a non-executive director of AIM-listed Jersey-based investment firm Masawara, which targets interests in Zimbabwe and southern Africa.

Mr Jeans was commercial director of Ryanair until 2002, when he left to head up Mytravel's low cost airline. At Ryanair, he worked closely with Michael O'Leary and was frequently the public face of the carrier. He was also a former boss at Monarch Airlines.

Stobart Air's passenger numbers have risen 55pc since 2012, while the carrier has also taken delivery of new aircraft.

RISE

It carried 94,242 passengers in March, up 9pc on March 2013. Its passenger numbers are up 14pc in the year-to-date, with its services to and from Dublin experiencing a 27pc year-on-year rise in March.

UK transport group Stobart owns 45pc of Stobart Air, with Invesco owning 42pc and Cenkos Securities owning 8pc. Stobart also owns London Southend Airport.

The group recently announced that it's selling 51pc of its core transport and distribution business. It's retaining its stake in Aer Arann and ownership of the airport, however.

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