SOUTHEND Airport’s owner Stobart has expressed interest in buying a regional airline to help continue its passenger growth.

Stobart Group, which spans infrastructure, energy and aviation and has owned the airport since 2008, announced in October that they were seeking “alternative structures” for its airline and leasing business.

The company has now acknowledged one option could be to “acquire 100 per cent of Flybe” after shares in the airline soared.

However, it cautioned that there was no guarantee a firm offer will be made.

In a statement, the company said: “Stobart Group and Flybe have a range of shared interests arising from Stobart Group’s ownership of Southend Airport, its aircraft leasing company and the growing franchise arrangements between the two groups’ airlines.

“As previously disclosed in October 2017, we have been reviewing alternative structures for our airline and leasing business that can play an important part in the consolidation of the regional airline sector. A number of potential structures have been considered including taking a non-controlling interest in a vehicle to acquire 100 per cent of Flybe, likely to be in cash.”

The news comes days after the airport hired Bernard Lavelle as the new director of aviation business development in a bid to continue the hub’s growth with a target of 10 million passengers.

The airport handled more than one million passengers last year and has ambitions to double that level in 2018.

Mr Lavelle, who worked at City Airport as sales director, said: “It’s not hard to see the huge potential for Southend. With one million passengers a year, the plan is to double that number over the next 12 months. Ultimately, Southend airport has the capacity for 10 million which would go some way in alleviating the shortage of space in the south-east.”

He added: “This is a terrific opportunity for me to make a difference and ensure that airlines understand and take advantage of what Southend has to offer – comfort, speed of access, few queues and a friendly experience.”

Shares in Stobart Group rose more than two per cent following the announcement.