| Type | Public limited company |
|---|---|
| Traded as | LSE: STOB |
| Industry | Integrated Transport Logistics |
| Founded | 1950s |
| Founder(s) | Eddie Stobart |
| Headquarters | Carlisle, Cumbria, England |
| Area served | Belgium, Ireland, United Kingdom |
| Key people | Rodney Baker-Bates, (Chairman) Andrew Tinkler, (CEO) William Stobart, (COO) |
| Revenue | £447.7 million (2010)[1] |
| Operating income | £39.8 million (2010)[1] |
| Net income | £28.2 million (2010)[1] |
| Employees | 4,919 (2010)[1] |
| Divisions |
|
| Subsidiaries | Stobart Holdings Ltd Eddie Stobart Group Ltd Eddie Stobart Ltd James Irlam & Sons Ltd Stobart (Ireland) Ltd Eddie Stobart Belgium NV Stobart Rail Freight Ltd Westlink Group Ltd O'Connor Group Management Ltd Stobart Properties Ltd Stobart Rail Ltd Stobart Airports Ltd Stobart Air Ltd The London Southend Airport Company Ltd Stobart Biomass Products Ltd Eddie Stobart Promotions Ltd |
| Website | www.stobartgroup.co.uk |
Stobart Group Ltd (LSE: STOB) (trading as Stobart Group) is a large British multimodal logistics company, with interests in Transport and Distribution, Estates, Infrastructure and Civils, Air and Biomass, through operations in the United Kingdom, Ireland and Belgium. The company is incorporated in Guernsey but has operational head offices in Carlisle, Cumbria and Widnes, Cheshire but hopes eventually to re-locate its Carlisle, Cumbria offices to a new, purpose-built building at Carlisle Lake District Airport, where it owns a 150-year lease expiring in 2150.
Started by 'Steady' Eddie Stobart in the 1950s as an agricultural business in Cumbria, the company was incorporated as Eddie Stobart Ltd. on 23 November 1970 as a haulage firm, eventually passing to his son, Edward Stobart.[2] After a series of complex takeovers, the Stobart company has developed from a haulage company to an intermodal logistics company, achieving a stock market listing without an IPO through a reverse takeover of the Westbury Property Fund. Following the step down of Edward in 2003, the Stobart family is now represented in the business through Edward's brother William Stobart.
Brothers-in-law Andrew Tinkler and William Stobart hold 8.18% and 3.77% respectively of the Stobart Group as of May 2011. Allan Jenkinson holds 4.9% of the company, the Irlam family hold 2.88% of the company and Steve O'Connor holds a further just under 3% of the company as of May 2011. The largest overall shareholder is now the investment management company Invesco who now holds 36.51% of the Stobart Group as of May 2011.
The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. However, unlike most public companies, Stobart Group retains its "Ltd" status as it is registered in Guernsey and not England & Wales or Scotland, which would require it to change its suffix to "plc" status.
The business was started by 'Steady' Eddie Stobart in the 1950s as an agricultural business in Cumbria. His son, Edward Stobart Junior, was born in Cumberland in England on 21 November 1954 at his parents' house just outside Hesket Newmarket near Carlisle. He was one of four children, with an elder sister Anne, an elder brother John and a younger brother William. He was always called Edward to avoid confusion with his father Eddie. He was very interested in lorries, and when he left school, he started working for his father's contracting business delivering agricultural material in the region. By 1970, the company consisted of three main parts: Fertilizer, Haulage and the Farm shop. The various parts were eventually split up between the family members, with Edward having haulage and the name, Eddie Stobart Ltd.
In 1976 Edward and the fleet of eight lorries moved to Carlisle to be closer to the M6 motorway.
A lot of hard work, never declining an order, and a virtual paranoia about keeping his lorries, characterised by their Tautliner bodies, immaculately clean eventually paid off, and Edward started to get orders from larger businesses. One of the key success factors for the company was its specific emphasis on building a strong reputation and corporate image. For example, in the 1980s and 1990s, if any driver was caught not wearing a tie while on duty, he or she could face disciplinary action. Similarly, the company had a policy that all drivers must wave back and honk their horn in the traditional truck-driver fashion when signalled by a passer-by or "Eddie spotter" to do so.
Other key elements in its growth at this time were the introduction of a new management team in 1986 and the opening, on 1 April 1987, of its first depot in the English Midlands (at Burnaston).[3]
By 2000 the enlarged Eddie Stobart Group Ltd. consisted of three divisions: Eddie Stobart Ltd., Eddie Stobart International and Eddie Stobart Promotions.
By 2002 the company was experiencing financial difficulties caused by the fuel crisis. In 2001 the haulage business had posted its first loss,[4] with the fan club making more money than the haulage business.[4]
In November 2003 Eddie Stobart was sold to WA Developments, a civil engineering company that specialised in railway maintenance, based in Appleby-in-Westmorland, Cumbria. At the time, Eddie Stobart was 55% owned by Edward Stobart and 45% owned by his brother William. WA Developments was 27% owned by William and 73% owned by William's school friend, brother-in-law and business partner Andrew Tinkler. In effect, therefore, William Stobart's stake in Eddie Stobart reduced from 45% to 27%.
Eddie Stobart Group Ltd. became a subsidiary of W.A. Developments (International) Ltd, a parent company of WA Developments created to purchase Eddie Stobart Group Ltd, in February 2004 when the transaction completed. Upon completion, Andrew Tinkler became Chairman and William Stobart became Managing Director of Eddie Stobart.
Following further growth, the company had previously been looking to move from its Carlisle base and was considering a relocation further down the M6 motorway to Warrington. These plans were rejected due to potential job losses in Carlisle.[4] Stobart had also been considering expanding into the air freight business. On 7 April 2006 Haughey Airports Ltd – the company which operated Carlisle Airport – was acquired by Eddie Stobart's parent company WA Developments, through a subsidiary company Stobart Air Holdings Ltd.[5] Haughey Airports Ltd was then re-named Stobart Air Ltd, and Carlisle Airport was re-branded as Carlisle Lake District Airport.
Plans were announced to redevelop the airport site to include a new passenger terminal, an air freight service, a new joint headquarters for WDA and Eddie Stobart, and a 750,000-square-foot (70,000 m2) distribution centre.[4]
In September 2006 Stobart increased its rail operations by launching a new rail freight service for Tesco, under the Stobart Rail banner.[6]
Im 2007, following the need for further investment in Eddie Stobart, WA Developments appointed Royal Bank of Scotland to discuss its options. French rival Norbert Dentressangle said it would be interested in buying Eddie Stobart, but Andrew Tinkler preferred external investment, without a complete sale.
On 15 August 2007 the Stobart business gained a stock market listing through the reverse acquisition of the Westbury Property Fund Ltd, a commercial property and ports company.[7][8]
Westbury acquired the ultimate Eddie Stobart Ltd. holding company, Stobart Holdings, from W.A. Developments (International) Ltd. for £137.7 million: £62 million in cash and £76 million in new Westbury Property Fund shares. The re-named Westbury group then became the London Stock Exchange listed Stobart Group Ltd., with Andrew Tinkler and William Stobart becoming substantial shareholders holding 20% and 8.5% respectively of the Stobart Group and becoming Chief Executive Officer and Chief Operating Officer of the Stobart Group respectively.
In return, Westbury would sell the bulk of its commercial property portfolio, Westbury Properties Ltd., to another WA Developments subsidiary, WADI Properties Ltd., for £142.1 million in cash. The Stobart Air operation, owners of Carlisle Airport, remained outside the enlarged group, still owned by WA Developments.[8]
With the Westbury takeover Stobart gained the Port of Weston in Runcorn. At the same time as the Westbury merger it was announced that the "O'Connor Group" was also being purchased by Westlink, at the time a wholly owned business of Westbury.[9] The O'Connor Group operates a truck fleet of approximately 90 vehicles, offering transmodal road rail services at the 'inland port', Widnes Intermodal Rail Depot.
In March 2007 Westbury had also acquired AHC – a rail terminal operator and storage, facilities handling and transport business – operating on a site adjacent to the O'Connor terminal.[7] Westbury also operated a joint venture, Victa Westlink Rail, between its Westlink subsidiary and Victa Railfreight.[7]
On 10 March 2008 the Stobart Group announced the acquisition of James Irlam & Sons Ltd, one of the largest independently owned road transport logistics providers in the UK.[10] The company was purchased from the Irlam family for £59.9 million.
At the same time, the group announced the purchase of the William Stobart and Andrew Tinkler owned partner company W. A. Developments Ltd., which had been advising Stobart on the redevelopment of the inland port operation in Widnes and potential port operation in Runcorn, and a £50,000 option agreement to purchase Carlisle Lake District Airport, controlled by WA Developments through Stobart Air Holdings, for £15 million (£2.5 million in cash and £12.5 million in new Stobart Group shares).[11] At the beginning of June 2008, W. A. Developments Ltd. was re-named Stobart Rail Ltd and became responsible for all the railway activities of the group.[12] This is now contained in the Stobart Infrastructure and Civils division.
On 1 April 2008 the Stobart Group (incorporating Eddie Stobart Ltd) started its first dedicated operations in Ireland, Stobart Ireland, based in Dublin.[13] This followed the purchase of TDG (company)'s Irish trailer business
In July 2008 it was announced that the group had taken over the chilled and ambient goods distribution operations from the administrators of Innovate Logistics Limited, saving the jobs of around 1,300 Innovate employees.[14]
On 2 December 2008, the Stobart Group announced the surprise £21 million purchase of London Southend Airport, through its subsidiary Stobart Airports Ltd from Regional Airports Ltd (who also own London Biggin Hill Airport). At the time, the book value of London Southend Airport's assets were £25.5 million, and the acquisition was later described as a "bargain purchase" by the Stobart Group. The deal was paid as to £10 million in new Stobart Group shares, £6 million by a vendor loan note, and the remaining £5 million was paid on the condition of London Southend Airport completing its expansion plans.
At the time of the sale of London Southend Airport to the Stobart Group, Global Infrastructure Partners, the owner of London City Airport, was seen as the preferred buyer, offering up to £55 million for the airport. However, it instead opted to buy Gatwick Airport.
Following the purchase of London Southend Airport, Stobart Group was said to be interested in buying Humberside Airport when it was put up for sale by the Manchester Airports Group. However, the Manchester Airports Group later withdrew from the sale.
In January 2009, Stobart Group's subsidiary, Stobart Airports Ltd., exercised its option to acquire Carlisle Lake District Airport from Stobart Air Holdings for £14 million (£1 million less than originally announced). Following an independent shareholder vote, the acquisition was completed in May 2009, and the purchase price was reduced to £9.9 million due to a fall in the value of Stobart Group shares.
On 14 September 2009, MP David Taylor officially opened Stobart's Nestlé distribution centre in Bardon, Coalville, Leicestershire, after a £7 million refurbishment creating an extra 62 jobs. The new site previously owned by Innovate Logistics, at full capacity, will hold 110,000 pallets, and 88,000 tonnes of goods. The hub distributes approx 75% of Nestlé UK's deliveries of products such as Kit-Kats, Smarties and Nescafé.[15]
On 24 March 2010, the Stobart Group announced the purchase of 50% of A. W. Jenkinson Biomass Ltd, from A. W. Jenkinson, for £30 million, as an equal mix of cash and shares. A. W. Jenkinson Biomass Ltd was then re-named Stobart Biomass Products Ltd. [16]
On 11 October 2010, the Stobart Group announced it was purchasing a convertible preference share in the Irish airline Aer Arann for €2.5 million. At the same time, Aer Arann announced that it would start twice daily flights from Stobart Group's London Southend Airport to Galway and Waterford in Ireland from 27 March 2011.
Edward Stobart died on Thursday 31 March 2011 suffering heart problems. He was 56.[17]
On 21 April 2011, the Stobart Group announced a Placing and Open Offer (similar to a rights issue) of 77,339,766 new ordinary shares in the Stobart Group to raise net proceeds of £114.9 million to achieve its growth plans.
The Stobart Group also announced it was buying the remaining 50% of Stobart Biomass Products it did not already own for £20 million.
Due to a fall in property values during 2007-2011, the Stobart Group also announced an option to buy back Westbury Properties Ltd. from WADI Properties Ltd. expiring on 15 August 2011, as some of its properties, owned by a Westbury Properties Ltd. subsidiary, Moneypenny Ltd., were used by the Stobart Group for its operations. [18]
Stobart Group is listed on the London Stock Exchange in the FTSE 250 Index under the symbol STOB.
All figures below are for the Stobart Group's financial years, which run for 52 or 53 week periods to late February.
| 52/3 weeks ended | Turnover (£m) | Profit before tax (£m) | Dividend per share (p) | Adjusted earnings per share diluted (p) |
|---|---|---|---|---|
| 28 February 2011 | 500.39 | 29.47 | 6 | 9.02 |
| 28 February 2010 | 447.66 | 33.29 | 12 | 11.58 |
| 28 February 2009 | 431.06 | 29.72 | 6 | (4.07) |
| 29 February 2008 | 108.84 | 3.52 | 8.3 | (22.92) |
| 31 December 2006 | 0.42 | (1.12) | 6 | 58.29 |
| 31 December 2005 | 7.59 | 13.7 | 6 | 26.48 |
| 31 December 2004 | 5.43 | 7.56 | 8 | 54.04 |
Stobart Group is the UK's leading multimodal logistics company with interests in Transport and Distribution, Estates, Infrastructure and Civils, Air and Biomass. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
From beginnings in agriculture and then as a road haulage company, the company has expanded into rail and air transport, as well as logistics management and warehousing. After growth of a high profile image through distinctive and individually named trucks, the group attracted an 'Eddie spotting' fan base, and subsequently developed an official fan club, and a merchandising operation selling Eddie Stobart branded goods. The brand has been expanded into sponsorship, particularly the Stobart Motorsport operation.
There are now five main business divisions within the company: Stobart Transport and Distribution, Stobart Estates, Stobart Infrastructure and Civils, Stobart Air and Stobart Biomass.
The Eddie Stobart haulage operation is now known as Stobart Transport and Distribution, containing all the warehousing and distribution activities (including Stobart Rail rail freight services and the Stobart Ports land port division). Stobart's distinctive trucks operate throughout Europe, travelling as far as Kiev in Ukraine. 82% of the Stobart Group's turnover comes from this division.
The Stobart Air division operates London Southend Airport [19] purchased on 2 December 2008, and Carlisle Lake District Airport, purchased in May 2009.
In 2005, and again in 2007, Eddie Stobart was recognised as a UK Superbrand by Superbrands Ltd.
Despite its relatively large size, Eddie Stobart only has a 2% market share of the road haulage industry.
Stobart Transport and Distribution is the Stobart Group's main division, accounting for 82% of the Stobart Group's turnover. It contains all the Group's transport, storage and handling services, meeting ambient and chilled distribution, and warehousing requirements across ten business units.
It operates from 40 sites in the UK and Europe and includes the previous divisions of Eddie Stobart: The original trucking business; Stobart Ireland: Warehousing and cross-docking facilities for all of Ireland; Stobart Rail: Rail Freight solutions; and Stobart Ports: Waterway and inland container ports.
William Stobart, the Chief Operating Officer of the Stobart Group, heads this division.
The largest part of the Stobart Transport and Distribution division is the original Eddie Stobart business.
Standard Eddie Stobart trucks previously carried a yellow and red shaded effect identity "Eddie Stobart Ltd." with the strapline "Express Road Haulage Specialist",[20][21] although the strapline "International Logisitics" had also been used.[22] This livery featured a basic contrast scheme of white, green, yellow and red, characterised by the yellow "S" chevron, red and white striped bumpers, and white detailing on red truck and trailer skirt panels.
In the Edward Stobart era Customer liveries where also used for companies such as Knauf,United Glass,Gerber Foods,Britvic and Schmalbach lubeca.
To reflect the transfer of the company to WA Developments, and with the invention of a new wraparound shrink wrap adhesive plastic application technique, the standard livery was updated and changed to a more blended arrangement,[23] with the dropping of yellow, and the traditionalist style white detailing and shadow effect fleet name. The main identity changed to just "Eddie Stobart" with white lettering and no shading effect, with the strapline "Trans - Store - Logistics".[24] Some trailers carry a whiter refrigeration livery.[25] The striped white bumper effect is now extended around the vehicle, and is reflective as a night safety feature. Other Stobart trucks can carry complete customer liveries, most notably for Tesco, Coke-Cola, Mercedes AMG Petronas, Pirelli or the light blue of Knauf.
Stobart Rail carry the same livery as Eddie Stobart tractor units but have a main colour of Blue instead of the Green of Eddie Stobart.
Despite news reports to the contrary,[26] the Irlam and O'Connor fleets have started to receive Stobart liveried trucks, although the "Stobart" at the top front of the tractor unit is changed to "Irlam" or "O'Connor", with the relevant web address in place of the Eddie Stobart one.[27] as of 2011 all Stobart tractor units that had previously carried the "Irlam" or "O'Connor" branding now carry Stobart Group branding.
The recent company additions to the group, the different in house customer liveries used, and the changeover of standard liveries can result in odd combinations of liveries between tractor and trailer combinations.[28][29][30][31]
The Stobart sponsored rally team uses a specially liveried trailer.[32]
Eddie Stobart has a long tradition of giving its trucks female names. The first four owned by Eddie Stobart were named after model "Twiggy" and singers "Tammy" (Wynette), "Dolly" (Parton) and "Suzi" (Quatro). Names are now often chosen with connections to drivers, or to commemorate long-serving employees. The practice has been expanded to cover other Stobart vehicles, including their sponsored sports cars and the Stobart Rail locomotive "Eddie the Engine".
With the expansion of the fleet, names have become harder to choose, and the fleet now features "Tuula Karina" (Finnish), "Angharrad" (Welsh), "Anstice" and "Saoirse Erin" (Irish, meaning 'Free Ireland'). Currently the vehicles with the shortest and longest names are "Nia" and "Gladys Duchess of Overton", both on Scania R420s.
There are some exceptions to the female naming convention (including Eddie the Engine). In 2005, in celebration of 20 years of Transformers Stobarts named a MAN tractor "Optimus Prime" and recently during the filming of a television series entitled "Eddie Stobart: Trucks and Trailers" a Volvo FH12 was christened "Valentino" after Valentino Rossi, the legendary Italian motorcycle racer, which caused a furore among spotters.
Members of the fan club can also request a name, providing it is not already in use, but currently there is a three-year waiting list. When the name does finally get added to a truck a certificate and letter is sent to the person who requested it.
The Eddie Stobart fleet includes a number of Volvo FM dual-fuel trucks, running primarily on liquid natural gas with diesel as a back-up.[33]
The Stobart Group operates some rail based services, both for freight as the Stobart Rail service, and (formerly) for passengers. Rail operations were provided for the group by Direct Rail Services (DRS), but in 2009 it announced that it was switching partners to DB Schenker Rail (UK).[34] Stobart also operated a short lived Stobart Pullman charter train.
For rail freight transport the group owns warehousing at the rail-connected Daventry International Railfreight Terminal (DIRFT), and owns the rail-connected Widnes Intermodal Rail Depot.
A service operated by DRS started on 4 November 2008 from Inverness southwards carrying containers operated for Tesco. The containers all carry the "Stobart Rail" or "Tesco - Less CO2" branding. Trucks carrying Stobart Rail branded containers are also carried by the haulage company J G Russell which partners Stobart in this operation.[35]
The Stobart Group also briefly entered the passenger railtour market, through the Stobart Pullman, which was a rebranding of the Hertfordshire Rail Tours business inherited from Victa Westlink Rail. Traction was provided by Direct Rail Services using Stobart branded carriages. It was launched in February 2008 but as of July 2008 the operation was suspended, presumed closed.[36]
On 30 October 2009 Stobart Rail commenced a new train service (operated in conjunction with DB Schenker Rail (UK); it operates a 1,100 mile journey from Valencia, providing a low carbon alternative for the import of fresh Spanish produce, terminating at the Ford Dagenham rail head.[37]
Stobart Rail operate the Southend Airport railway station which it opened on 18 July 2011.
Stobart Estates comprises the Stobart Group's portfolio of properties, including retail sites, light industrial buildings and distribution centres, office space and holdings which are owned or used in the Group's day to day business.
If the Westbury Properties Ltd option is exercised, then that company will be integrated into this division.
The Head of this division is Richard Butcher, the Group Deputy CEO of the Stobart Group.
Stobart Infrastructure and Civils (formerly Stobart Developments) incorporates the major engineering and redevelopment projects including road/rail freight distribution centres, ambient and chilled warehousing facilities, construction/refurbishment of rail stations, sidings and airport buildings, and including Stobart Rail: Rail Infrastructure Engineering (originally W. A. Developments Ltd).
The Co-Heads of this division are Andy Bathgate and Kirk Taylor.
Stobart Airports Ltd (trading as Stobart Air) comprises of Carlisle Lake District Airport and London Southend Airport. It also owns a convertible preference share in Aer Arann.
The Head of this division is Alastair Welch.
Stobart Group purchased the lease of Carlisle Lake District Airport in May 2009. It is operated by Stobart Air Ltd.
Stobart Group purchased the lease of London Southend Airport in December 2008. It is operated by The London Southend Airport Company Ltd.
Stobart Group also owns a convertible preference share in Aer Arann, which was acquired in October 2010.
Stobart Biomass transports sustainable wood products (primarily life-expired timber and low grade softwood) for use in low-carbon emission power plants, producing electricity at both large and small scale power plants, and including for export.
It was formed in March 2010 when the Stobart Group purchased 50% of A. W. Jenkinson Biomass Ltd, which was then re-named as Stobart Biomass Products Ltd. The remaining 50% was bought in May 2011.
The Head of this division is Allan Jenkinson, the owner of A. W. Jenkinson Forest Products.
The tradition of naming his lorry cabins with female names, combined with a very distinctive livery, has led members of the general public to "collect" sightings of Stobart lorries. This has occurred to the extent that a fan club was formed, eventually supported by the company which arranges depot tours and lorry rides, and sells model lorries etc. For a few years in the 1990s the company ran a fan club shop in Carlisle's city centre.
To help celebrate the 25th Anniversary of Eddie Stobart Ltd, the Somerset group The Wurzels recorded a new song "I wanna be an Eddie Stobart Driver". The song graced the UK Top 100 in 1995. The original, together with a spoof called "I wanna join the Eddie Stobart fan club", are still available for download via iTunes. There is also a range of Eddie Stobart toys available.
In 2011 The Stobart Group announced that they would be holding an event called Stobart Fest, The even was originally planned to be held at there Crick Depot, but a week before the event it was announced that it would be held in conjunction with the British Touring Car Championshipon Saturday 17th September 2011 at Rockingham Motor Speedway, they also annouced that filming will take place on the day for 3rd series of the Stobart Group TV show called Eddie Stobart Trucks, Trains and Planes. The show was previosuly called Eddie Stobart Trucks and Trailers.
Since the takeover of Eddie Stobart by WA Developments in 2004 and its subsequent listing on the London Stock Exchange in 2007, Stobart has taken to a high profile sponsorship programme, including:
Sponsorship of the Professional Jockeys Association.
In May 2007 the Stobart Group was the subject of controversy when it reportedly offered bonuses to its Carlisle-based drivers to work in Livingston in Scotland, to transport goods for Tesco who were in dispute with their distribution centre drivers and facing disruption to their supply chain. The Stobart drivers refused to cross the Livingston picket line.[40]
On 4 April 2008 controversy emerged surrounding the proposed developments to Carlisle Lake District Airport. In response to 63 apparently overly restrictive planning conditions placed on the development plans of Stobart Air, Andrew Tinkler apparently intended to move the Stobart haulage and warehousing operation out of Carlisle to Widnes, as a contingency 'plan B', asserting the redevelopment under the proposed condition would not be completed in time.[41] By 8 April talks had proceeded, and centred on ten disputed points.[42] On 10 April it was announced that Andrew Tinkler and Carlisle City Council leader Mike Mitchelson shook hands on a revised list of conditions for the plan.[43] However the plans were called in by the Government and Andrew Tinkler withdrew the application.
Planning permission was granted in December 2008 for the Carlisle Lake District Airport expansion and other developments, including a resurfaced runway and new terminal, a major transport and distribution facility for Eddie Stobart Ltd, along with a joint headquarters building.
In January 2009, Stobart Group exercised its option to acquire Carlisle Lake District Airport from Stobart Air Holdings for £14 million (£1 million less than originally announced). Following an independent shareholder vote, the acquisition was completed in May 2009, and the purchase price was reduced to £9.9 million due to a fall in the value of Stobart Group shares.
On 19 May 2010 the Court of Appeal overturned the City Council's decision to grant planning permission due to an objection by a local farmer, a Mr Gordon Brown, on the grounds that a full environmental assessment had not been carried out before permission was considered. Eddie Stobart Ltd. expressed disappointment with the ruling and stated that, although they still retained a long-term commitment to Cumbria, in view of contractual obligations, they would now instead have to use facilities elsewhere.
In January 2011, Stobart Air submitted proposals to build a 394,000 sq ft Air Freight Distribution Centre on the site. Under the plans, Eddie Stobart would re-locate all its Carlisle depots to the airport, and there would be passenger flights to and from London Southend Airport, operated by Aer Arann, an airline partly owned by the Stobart Group through a convertible preference share acquired in October 2010.[44] Further details on jobs and flights were supplied in support of the application in July 2011[45] but a decision is not expected until late 2011.
