Shares of Carlisle-based aviation and energy infrastructure firm Stobart Group rose about 9% on Monday after it announced its intention to change its name to Esken Limited.

“This follows the announcement on 21 May 2020 that Stobart Group sold the Eddie Stobart and Stobart trademarks to Eddie Stobart Logistics for £10 million,” said the group.

“As a result of this transaction Stobart Group agreed it would change its name before the end of February 2021.

“Stobart Group’s operating divisions may continue to use the brand to May 2023 and London Southend Airport will not change its name.”