For the last three months, restructuring specialists from Deloitte have been crunching the numbers and investigating the perilous financial situation of Stobart Air, the Irish based airline that operates the Aer Lingus regional service. They have been assessing potential liabilities, future cash flow projections and the capacity of the airline to weather the growing storm that has grounded the economy in general, and the aviation sector in particular. Accountants at Deloitte’s Dublin office were briefed to prepare an expert report on the company’s finances, including options for both formal and informal restructuring. The report is now almost complete, and will…

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