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Police investigating airline deal 'paperwork' issues

Ettyl raises concerns with Manx constabulary

Police on the Isle of Man are looking at issues with 'paperwork' which forms part of a Manx company's plans to purchase an airline. 

Last week Esken – formally known as the Stobart Group – revealed a deal to sell its entire shareholdings, including a franchise agreement with Aer Lingus, had stalled

This, it said, was due to buyer Ettyl Limited having problems with its proposed financing becoming unavailable.

Ettyl has confirmed to Manx Radio that it raised concerns with police as soon as it became aware of an issue with documents supplied by a proposed third party funder.

It adds that Ettyl is now in discussions with potential alternative providers of finance to progress the deal which also includes Carlisle Lake District Airport.

Esken says it will update the market in accordance with its listing obligations when there is 'more to say'.

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