Analyst Transport Intelligence (TI) says it is puzzled by Stobart Group's announcement that it is planning to add Carlisle Airport to its portfolio. Chief analyst Thomas Cullen expressed doubts that the Cumbrian site would become a major facility in the air-freight sector. "Perhaps [Stobart chief executive] Andrew Tinkler knows there's going to be an increase there. But I wouldn't have put that down as one of Europe's major air-freight hubs," he says.
"It has a rail freight facility and
port complex in the Liverpool-Manchester corridor. I understand that - I don't see where Carlisle Airport fits in." If Stobart Group buys the loss-making airport, it will pay up to £15m - £2.5m in cash and the rest funded by a share issue.
In the seven months to February 2007, the airport posted an operating loss of £1.6m. Stobart says it hopes to develop a logistics centre on the site, with the possibility of growing aviation services, including air freight. If it gets the go-ahead to redevelop the site, it says it could save up to £1m per year in rent.
It is also rumoured that the firm is eyeing up an unnamed Yorkshire haulage firm. n Stobart has taken over the transport operation at Tesco's Middlewich, Lancashire, site. The firm has been in talks with the supermarket and trade union Unite over the transfer of drivers to Stobart, but with the differences ironed out it started operating from the depot earlier this month.
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