Stobart To Buy Remaining Propius Stake

The UK’s Stobart Group will buy the 33 percent of aircraft lessor Propius Holdings that it does not own for USD$14.7 million.

Following the stock purchase from Aer Lingus, Stobart will own 100 percent of Propius. The deal will complete before the end of 2016.

Propius, which leases aircraft to Stobart Air, made a pre-tax profit of USD$7.5 million in 2015.