Agreement at London Southend Airport

9 October 2019

STOBART GROUP LIMITED

('Stobart Group' or 'the Company')

Agreement to provide import/export services at London Southend Airport

Stobart Group, the aviation, energy and civil engineering group, is pleased to announce it has signed an agreement with a global logistics customer to provide facilities and expertise to support the import and export of goods at London Southend Airport.

The initial two-year agreement will see Stobart Group provide runway access and import/export facilities by converting existing hangarage on the north side of the runway, away from the south side based commercial passenger operations.

Operations will commence in October 2019 and the customer may renew the agreement on an ongoing basis.

Warwick Brady, CEO of Stobart Group, said: 

"The agreement will enable us to further diversify and add a new revenue stream for London Southend Airport and Stobart Aviation Services, and is expected to contribute towards Stobart Group's underlying EBITDA from FY2020 onwards."

Enquiries:

Stobart Group Limited C/o Newgate Communications

Charlie Geller, Head of Group Communications

Newgate Communications +44 203 757 6880

Robin Tozer [email protected]

Ian Silvera

Megan Kovach