THE GROUP behind Carlisle's Lake District Airport could be facing an early loan repayment of over £190m over alleged agreement breaches. 

Esken's London Southend Airport (LSA) is under scrutiny over allegations of a 'technical' violation concerning a convertible loan agreement established with Carlyle Global Infrastructure Fund (CGI)

According to the Business Desk, CGI has issued an acceleration notice to LSA, insisting on the repayment of the loan totaling £193.75 million by February 16, 2024.

It was originally to be paid by August 2028. 

LSA is currently in the process of being sold. 

Esken maintains a firm stance that LSA has a strong position with regards to CGI's claim.

The claims follow at the same time the firm is in 'talks' to sell Carlisle's airport. 

The group has ambitions to sell the airport before the end of their financial year, come February, as they look to wind down the aviation business. 

A spokesperson from Esken said: "Esken is disappointed that CGI has chosen to take this action based on purported technical defaults of the convertible loan agreement.

"Esken and LSA are open to engaging with CGI to resolve the issue. Esken is confident it has a robust position, and there have been no payment defaults by LSA.

"LSA is an attractive strategic airport asset as aviation markets and the airport continue to recover from the unprecedented effects of the COVID-19 pandemic.

"The board of Esken believes that there is considerable value in the LSA business and continues to support its liquidity needs in line with the recovery plan.

"It is focused on securing the right long-term partner for the airport," they said. 

Cumbria Local Enterprise Partnership (LEP) held a panel meeting in December, placing the Carlisle airport on the agenda. 

The LEP has been approached by Esken to meet potential purchasers, with details of the potential buyers also being shared amongst members at the meeting.