Sobart seeks European partner for budget flights

UK LOGISITCS group Sobart is looking for a European partner to launch predominantly passenger budget flights from London's Southend Airport, which recently received government approval for a runway extension.

With up to 85 per cent of air cargo flying in passenger bellyholds, the formation of new services from Southend, in addition to providing the company with additional revenue, would enhance its freight network, the Financial Times reported.

As part of its vision to become a fully-integrated provider, Sobart has rapidly expanded its road, rail, air, and sea operations since it was acquired in 2003 by Andrew Tinkler, its new CEO.

Southend Airport's location allows aircraft to avoiding the usual London flight path, thus saving fuel and transit time - up to 20 minutes - on trips to the continent Europe.

The facility also features a newly built railway station, which Sobart says will allow passengers to reach Liverpool Street Station in just 49 minutes.

Sobart hopes for Southend to one-day serve as a rival to London City Airport by catering to over two million North African and Southern European passengers a year, ideally in time for the 2012 Olympics.

Analysts expect the group's turnover for the financial year ending March to rise five-fold since the previous cycle to GBP540 million (US$825 million), with pre-tax profits slated to reach GBP29 million ($44 million), a substantial improvement over the GBP3.5 million recorded just three years ago.

(Source: www.Schednet.net)