Stobart Air (Dublin International) chief executive Seán Brogan has announced his resignation after the carrier's board rejected his a EUR65 million management takeover proposal.

Brogan's bid was among three known offers submitted for the Irish capacity provider last year. One of the others reportedly included the Dublin-based Aviation Finance Company.

According to The Irish Times, following the rejection, tensions between Brogan and Stobart Air's newly appointed chairman, Andrew Tinkler, have risen culminating in Brogan's departure. Tinkler, who is also Stobart Group's CEO, replaced Tim Jeans following his resignation late last month.

Stobart Group, which owns a 45% stake in Stobart Air, is reportedly considering assuming full control of the carrier by acquiring investment broker Invesco Perpetual's 40% stake. It is also considering a possible tie-up between Stobart Air and CityJet (WX, Dublin International) though such a move may prove difficult given the former's current agreement to operate flights for CityJet rival, Aer Lingus (EI, Dublin International), as Aer Lingus Regional.

The Group acquired its stake in what was then Aer Arann Regional (Dublin International) when the carrier emerged from examinership in 2010. It planned to use Stobart Air to develop the Group's London Southend Airport into a major hub but results have thus far proven disappointing.