TransportXtra features news, opinion and analysis from the UK transport policy & planning;
passenger transport; urban development & parking industries.

Stobart Group sees ‘significant’ growth opportunities despite COVID-19

Coronavirus: Logistics, energy and airline company says it can offset business impacts of pandemic

06 April 2020
 

Logistics and aviation company Stobart Group said its assets still provide “significant opportunities’ for growth in spite of the coronavirus pandemic.

The group operates a global logistics operation, energy business and London Southend Airport.

Stobart Group has unveiled a number of measures taken in a bid to offset the disruption caused by the coronavirus outbreak.

Besides placing a freeze on capital expenditure, the group has furloughed 50% of its staff using the government’s Job Retention Scheme, as well as its board and senior leadership team taking a 20 per cent pay cut.

Stobart’s logistics operation at London Southend Airport will continue to operate as normal, and the group’s energy division has been designated as an essential business.

Warwick Brady, Chief Executive of Stobart Group, said: “The challenges presented by the rapid spread of the COVID-19 virus have been significant. However, I am immensely proud and humbled by the response of our people to this global crisis.

“We have acted at pace to put in place steps to safeguard our business in the immediate term, and our people have consistently understood and supported the actions we have taken.

“Despite the current challenges presented by the COVID-19 virus, we continue to own and operate aviation and energy assets with significant underlying value. There remain significant medium and long-term opportunities to further increase the value of the assets for our stakeholders.”

 
 
Transport Operations Manager
Buckinghamshire Council
Aylesbury, England
£48894 - £51402 per annum
Transport Operations Manager
Buckinghamshire Council
Aylesbury, England
£48894 - £51402 per annum
Strategic Transport Lead
Oxfordshire County Council
Oxford
£41,675 - £44,632 per annum
View all Vacancies
 
Search
 

TransportXtra is part of Landor LINKS

© 2020 TransportXtra | Landor LINKS Ltd | All Rights Reserved

Subscriptions, Magazines & Online Access Enquires
[Frequently Asked Questions]
Email: subs.ltt@landor.co.uk | Tel: +44 (0) 20 7091 7959

Shop & Accounts Enquires
Email: accounts@landor.co.uk | Tel: +44 (0) 20 7091 7855

Advertising Sales & Recruitment Enquires
Email: daniel@landor.co.uk | Tel: +44 (0) 20 7091 7861

Events & Conference Enquires
Email: conferences@landor.co.uk | Tel: +44 (0) 20 7091 7865

Press Releases & Editorial Enquires
Email: info@transportxtra.com | Tel: +44 (0) 20 7091 7875

Privacy Policy | Terms and Conditions | Advertise

Website design by Brainiac Media 2020