Our focused strategy

With the emergence of the global coronavirus pandemic, it was necessary to refresh the strategy as we navigate the recovery into a post-COVID-19 world.

The key strategic objective will be to drive shareholder value from our core aviation and energy assets over the medium term. We will do this by:

Our strategic progress

InitiativeProgressSummary
Withdraw from the Stobart Rail & Civils business during the course of FY21.DoneThe Company divested of Stobart Rail & Civils to Bavaria Industries Group AG in July 2020.
A focused aviation and energy business operating under a new brand.DoneStobart Group changed its name to Esken on 4 February 2021.
Design and implement an improved airport passenger experience for post‑COVID-19 travel.DoneA revised airport passenger experience is now in place, including next-generation baggage screening equipment designed to minimise contact and avoid bottlenecks.
Exit Stobart Air.DoneEsken announced a sale of Stobart Air to Ettyl in April 2021. However, the continuing uncertainties around travel and issues with the prospective purchaser’s funding package led the Board to conclude it was not possible to complete the transaction. As a result, we notified the Board of Stobart Air that Esken was no longer prepared to continue to provide funding to the airline, and the Board of Stobart Air appointed a liquidator. Esken will continue to fund its lease obligations on the eight ATR aircraft through to termination of the leases in April 2023. However, it will take immediate steps to seek sublease arrangements for the aircraft. However, on the basis that it is unable to sublease the aircraft, Esken forecasts total cash outflows of £82m over three years.
All other non-core businesses or assets will be realised for value over the next three years.In progressEsken continues to retain c.£39m of non-core assets and will realise value as market conditions for asset sales improve.