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canada goose uk canada goose EY was unavailable for comment at the time of writing.Stobart Group said the consortium was disappointed to put Flybe into administration and cease trading, expressing gratitude to its employees for commitment and energy over the past 12 months On its investment in Connect Airways, the company explained: Group’s initial investment was made up through the sale of Stobart Air and its aircraft leasing business, Propius.a result, the non cash balance sheet impact on Stobart Group is and the additional investment made in 2020.value of both these investments will now be written down to on its balance sheet.Group has also foregone deferred interest that it would have benefitted from in future periods. Stobart Group had not expected to receive a contribution from Connect Airways until after FY 2020. The company said Exeter headquartered Flybe Europe’s largest regional airline had shown signs of a turnaround the best efforts of all, not least the Flybe people, the impact of COVID 19 on Flybe’s trading means that the consortium can no longer commit to continued financial support, it added.Stobart Group stressed that Flybe administration would not have a direct impact on Stobart Air ability to trade.Stobart Air’s Employee Benefit Trust controls 60 per cent of the company, with Connect Airways the remaining 40 per cent.While Carlisle Lake District Airport is unaffected, Stobart Group warned there would be a short term impact on London Southend Airport, with Flybe just weeks away from launching ten routes from the airport.However, it added the prospects of that airport remain compelling Unions and politicians have reacted angrily to Flybe collapse, accusing the Government of failing to learn the lessons from the demise of Thomas Cook and Monarch.Transport Secretary Grant Shapps said the Government tried to do everything we could back at the turn of the year with the situation that has developed with [coronavirus], an already weak company, I’m afraid, just hasn’t been able to survive, he added.Damian Waters, regional director for the North West at business organisation the CBI, said addressing the concerns of Flybe employees and passengers should be the top priority.. uk canada goose

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