Stobart to complete Carlisle Airport takeover

The Stobart Group expects the planning permission process regarding its option to acquire Carlisle Airport will be resolved in the coming weeks, subject to finalisation of a planning related legal agreement, it has announced today.

In a statement made on the stock market, Stobart said it "intends to pursue the exercise of its option and completion of the transaction," which would be "subject to shareholder approval."

Carlisle City Council granted Stobart Air planning permission to develop Carlisle Airport for a second time last month.

Stobart resubmitted revised plans for a scaled down project after the initial approved application was called in for a public inquiry.

The logistics group must now wait to see if the reduced plans are also called in by Government for an inquiry.

Stobart plans to move its headquarters to the airport site from elsewhere in the city as well as creating freight warehouses and building a new passenger terminal to match increased services.

A further announcement is expected to be made soon.