Police in the Isle of Man have launched a formal investigation into a takeover of Stobart Air, the regional airline that called in liquidators earlier this month.
Stobart Air, which ran a string of services for Aer Lingus, ceased trading after a rescue deal collapsed.
The Telegraph reported earlier this month that police on the Isle of Man had been alerted to “potential irregularities” in relation to the nominal sale to Ettyl, a start-up led by 26-year-old Jason Scales.
A spokesperson from the Isle of Man Constabulary confirmed to Travel Weekly that a formal investigation has started but added there will not be any further comments “at this point in time”.
Stobart Air was put up for sale by its owner Esken, formerly known as Stobart Group.
The Telegraph said: “Esken is understood to have provided lessors with a parent company guarantee, leaving it liable for lease payments worth millions of pounds following the airline’s collapse.
“Mr Scales struck a deal with Esken to buy the airline in April. Following inquiries from The Telegraph, Esken admitted in May that there were difficulties surrounding funding for the deal.”
The Telegraph added: “Ettyl says that it reported concerns to the police about an ‘issue with the paperwork supplied by one of the proposed third-party funders’ as soon as it was aware of them.”