ESKN.L Regulatory News (ESKN)

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

6 August 2021

Esken Limited

("Esken" or the "Group")

Ryanair closes London Southend Airport base

Esken, the aviation and energy infrastructure group, has today been informed that Ryanair has stated its intention to close its base at London Southend Airport with effect from the start of the winter season this year. As a result, Ryanair will cease operations based from London Southend Airport from 1 November 2021.

Ryanair signed a five-year agreement to base three aircraft at London Southend Airport in 2018 and commenced operations 1st April 2019. The airline has had two aircraft in operation since 2020, following a reduction driven by the pandemic. However, Ryanair's performance at London Southend Airport has been further affected by the COVID-19 pandemic and has now resulted in this decision.

Esken is currently in the process of reviewing the impact of such decision on its forecasts. However, the financial impact of Ryanair's base closure will be mitigated by a reduction in costs directly associated with serving Ryanair's base and the low level of passengers expected during the winter season.

Esken will provide a further update as soon as it is able.

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