The Stobart Group has highlighted the growth in its aviation sector as a key factor in its positive earnings over the last year.
In a section of operational highlights, the group, which owns, invests in and operates infrastructure assets wrote:
‘Wider strategy in place to identify opportunities to solve London capacity constraints and improve customer experience throughout the UK aviation sector
· London Southend was the UK’s fastest growing airport in 2017 with 29% increase in passenger numbers to over one million
· Opened new Stobart Jet Centre at London Southend Airport, providing a premium experience and boosting London capacity for business travel
· Our regional airline, Stobart Air, saw 9% increase in passenger numbers through our franchise and commercial agreements with Aer Lingus and Flybe
· Stobart Aviation Services awarded a new ground handling contract with easyJet at London Stansted
· Announced start of commercial passenger flights from Carlisle Lake District Airport from June 2018’.
The above signifies the growth in the company’s aviation investments.
Chief executive Warwick Brady, commented: “It has been a great experience since taking over as CEO of Stobart Group at the last AGM. I have been working closely with the teams to develop and evolve the growth strategy for Aviation and Energy to create and deliver significant value for shareholders over the next five years, retain talented entrepreneurial people and manage our financial resources.
“I am pleased by the progress made in the Energy division, which is now on track to achieve its growth targets, and we are focused on further improving efficiencies and margins.
“The innovation within Rail & Civils is impressive, and the team continue to both win external contracts and add significant value throughout the Group’s operating assets.
“I also see particular opportunities to develop our Aviation division. At Stobart Group, we have a lot of management experience in the aviation sector, a background in logistics and a “trusted to deliver” culture aimed at delivering first class customer service.
“Our strategy is based on unlocking the current London airport capacity constraints through our London Southend Airport by increasing passenger numbers and attracting more airlines as well as improving customer services by expanding our Aviation Services offering and, ultimately, building on our growing reputation. We also continue to enjoy strong performance from our regional airline, Stobart Air.”