Southend Airport’s owner is reportedly in talks to add a budget airline to its armoury.

Stobart Air has emerged as a possible buyer of Bmibaby after the firm was put up for sale earlier this year.

Bosses have refused to comment whether they have targeted the low-cost airline, which operates routes to more than 40 destinations across Europe.

However, insiders claimed Stobart was already carrying out the standard “due diligence” investigations, which take place before an acquisition. A source said: “My understanding is they are going through that process at the moment. It’s not a done deal by any means, but there is a serious interest there.”

Rumours about Stobart setting up or acquiring its own airline have been rife since the company bought Southend Airport for £21million in 2008.

In 2010, it invested 2.5million euros in Irish firm Aer Arann, which subsequently began flights to Southend from Waterford and Galway.