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Buyer sought as Southend airport is put up for sale

The sale of Southend airport is being explored by owner Esken.

The company confirmed that the Essex airport would be included in a wider disposal process.

In an update on its strategic review started in November, Esken said: “A decision has also been taken to explore a sale of the aviation business, primarily London Southend airport, with initial planning for this phase having commenced. 

“A key objective will be to find the right buyer with the capital to support the growth prospects of the airport over the long term and benefit airline partners, customers and local stakeholders.”

The airport suffered a withdrawal of Ryanair and Wizz Air as it was hit like others by the  Covid clampdown on international travel.

However, a multi-year deal was secured with easyJet in January for operations from Southend including a new route to Amsterdam alongside Faro, Majorca and Malaga with flying set to start for the summer season on March 29.

The addition of the new route, alongside increased frequencies to Faro means the budget airline will run up to 18 departures a week – up 30% on last summer. 

Esken said: “The outlook across the UK aviation sector for summer 2023 is increasingly positive, with many larger airports expected to be at or close to full capacity. 

“This is expected to result in an increased focus on the available peak time slots at London Southend airport from next year onwards. The management team continue to engage actively with airline partners about their future plans.”

The airport “continues to manage its cost base to match activity levels while identifying ancillary sources of revenue,” the company added.

Net proceeds from disposals will be used to pay down debt and provide liquidity to the remaining group until the disposal programme has been completed. 

Esken expects to provide a fuller update when it issues results for the year to February 28 on a date yet to be confirmed.

 

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