Stobart buys stake in aircraft leasing firm from Aer Lingus

DUBLIN, Nov 18 (Reuters) - Stobart is buying the 33 percent it does already own in the firm that leases planes to its Stobart Air subsidiary from Aer Lingus for 14.7 million euros ($15.6 million), the British freight company said on Friday.

Stobart said the deal to take full control of Propius Holdings Limited was expected to close before the end of the year. According to a filing last year, Propius owns eight ATR 72-600 aircraft used by Stobart Air.

The Irish Times and Irish Independent newspapers reported last month that Stobart was close to a deal to merge Stobart Air and rival Irish regional airline CityJet and was restructuring its business in anticipation of a deal.

CityJet and Stobart on Friday declined to comment on the reports. Stobart said it was acquiring full ownership of Propius because it is a profitable aircraft leasing company that generates cash.

($1 = 0.9431 euros) (Reporting by Conor Humphries; editing by David Clarke)