Aviation, energy and civil engineering specialist the Stobart Group has responded to recent speculation regarding a potential sale of 25% of its London Southend Airport.
The Group confirmed in a statement that it has been in detailed discussions for several months regarding an initial minority investment from a potential strategic airport development partner that has indicated a headline value for London Southend Airport of between £700m-£800m (US$825m-US$940m).
No acceptable terms have been agreed and discussions have since been put on hold while both parties navigate the current COVID-19 outbreak, the statement concluded.