Esken battens down in Southend for air travel recovery

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Esken Limited () the owner of Southend Airport (LSA) is in late-stage talks about a cash injection from private equity firm Carlyle.

The group announced the closure of Stobart Air at the weekend after a planned sale fell through but said today it was in talks with an unnamed investor over an injection of funds.

The group later confirmed that the investor is Carlyle, which is set to take a 30% stake in the airport through the issue of a convertible bond that would convert into equity over a period of several years.

In a statement, Esken said it is the final stages of agreeing the documentation with Carlyle Global Infrastructure Opportunity Fund with regards to a long term strategic funding transaction relating to the development of LSA.

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