DUBLIN, Nov 18 (Reuters) - Stobart is buying the 33percent it does already own in the firm that leases planes toits Stobart Air subsidiary from Aer Lingus for 14.7 millioneuros ($15.6 million), the British freight company said onFriday.
Stobart said the deal to take full control of PropiusHoldings Limited was expected to close before the end of theyear. According to a filing last year, Propius owns eight ATR72-600 aircraft used by Stobart Air.
The Irish Times and Irish Independent newspapers reportedlast month that Stobart was close to a deal to merge Stobart Airand rival Irish regional airline CityJet and was restructuringits business in anticipation of a deal.
CityJet and Stobart on Friday declined to comment on thereports. Stobart said it was acquiring full ownership of Propiusbecause it is a profitable aircraft leasing company thatgenerates cash.
($1 = 0.9431 euros) (Reporting by Conor Humphries; editing by David Clarke)