UK logistics specialist Stobart Group and investment manager and broker Invesco Perpetual are considering selling their combined majority stake in Stobart Air (Dublin International).

Informed sources who spoke to The Irish Times on condition of anonymity said that should a deal go through, it would likely be with another investment fund in the new year.

The firms, which hold a total 85% stake in the airline, have been considering exiting the airline for some time. Stobart Group entered Aer Arann Regional's shareholding when the airline emerged from examinership in 2010. It planned to use Aer Arann, renamed Stobart Air, to develop the Group's London Southend Airport asset into a major hub but thus far results have fallen short of expectations, the report said.

Aside from Stobart Group and Invesco Perpetual with a 45% and a 40% stake respectively, Stobart Air's other shareholders include Aer Arann founder Padraig O'Ceidigh (5%) and Cenkos Securities (10%).

Stobart Air operates two ATR42-300s and fourteen ATR 72-200/-500/-600s on franchise services under the Aer Lingus Regional and flybe. (2002) (Exeter) brands as well as under a wet-lease agreement with flybe.