ShareCast News

Stobart wins approval for airport development

Fri, 3rd Aug 2012 14:01

Stobart, the second tier logistic group, has received approval from Carlisle City Council's development control committee for the development of Carlisle Lake District airport.

The development includes the erection of a 374,000 square foot distribution centre and the raising and re-profiling of the main runway.

Andrew Tinkler, Stobart's Group Chief Executive, said: "The decision is extremely positive for the people of Cumbria as it will drive the economy, boost tourism and safeguard over 800 direct and indirect jobs.

"The freight distribution centre will allow Eddie Stobart to attract new clients while providing the rental income required to develop Carlisle Airport and commence passenger operations. Additional group revenue streams will be realised as we link Carlisle and Southend airports to give passengers seamless connections to Europe."

The share price rose 1.36% to 119.30p by 14:06.

NR

Related Shares: Stobart Group Ltd. (STOB).

Back to ShareCast News

Datafeed and UK data supplied by NETbuilder and Interactive Data. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.