Purchase of Stobart Air and Carlisle Airport by Manx company in doubt

A Manx company hoping to buy an airline and airport may have hit snags as it tried to raise the money.

Ettyl Ltd wanted to purchase Stobart Air and Carlisle Lake District Airport in a deal worth tens of millions of pounds.

But Esken Ltd, which is selling off the assets, issued a statement to the London Stock Exchange, saying the deal's proposed financing is no longer available and Ettyl is trying to find money elsewhere.

Ettyl, based in the Isle of Man, is registered in London and was set up last May.

You can read the letter here.