Pre-tax losses widened to more than £150m while revenue dropped by almost a quarter at the company previously known as Stobart Group during its latest financial year.
Esken has reported losses of £150.3m for the 12 months to February 28, 2021, compared to losses of £139.4m during the prior year.
Its total revenue also dropped by 22.1% from £142.1m to £110.7m.
The group said its pre-tax losses include £58.2m on the acquisition of Stobart Air and Propius and net impairments of £30.1m during the current year.
Esken also funded £42.2m to Stobart Air and Propius from date of acquisition to February 2021.
The results come after Stobart Air was placed into liquidation following the termination of the sale of Stobart Air and Carlisle Lake District Airport to Ettyl.
Esken's total cash outflow resulting from the liquidation of Stobart Air and ongoing Propius leases and related costs is estimated to be £82m over three years.
However, the group added that this will reduce in the event that Esken is successful in subleasing Propius' aircraft.
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Esken is also expecting to sign a definitive transaction agreement with Carlyle in the coming days for £120m of funding which would release £100m gross of liquidity into the rest of the group, with the remaining £20m ringfenced for London Southend Airport to cover all anticipated expenditure for the airport for the period through to the end of February 2024.
David Shearer, executive chairman of Esken, said: "I would like to thank the Esken team for their hard work and dedication in facing the unprecedented challenges presented by Covid-19, the ramifications of which are likely to continue for some time.
"We responded robustly and decisively, minimising losses, reducing cash burn and protecting liquidity to maintain the operational capability of our core businesses.
"Encouragingly Stobart Energy's margins have been recovering in the first half of FY2022 and gate fees are now improving toward pre-Covid-19 levels.
"Passenger travel has been severely disrupted by lockdowns and evolving quarantine arrangements. London Southend Airport (LSA) has not only withstood the impact of the pandemic but has provided an essential service through its global logistics operation. Its low-cost base proposition will position us well for a post pandemic recovery.
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"Further to our announcement on 14 June 2021, Carlyle Global Infrastructure Opportunity Fund L.P. (Carlyle) has informed Esken that it is seeking final approvals for a definitive transaction agreement in the coming days for £120m of funding via a convertible loan to LSA.
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"Esken is also in advanced discussions with its banks, and has commenced discussions with shareholders in relation to the ongoing funding requirements of the group.
"The strategic funding proposal in relation to LSA together with a successful completion of a new working capital facility and equity raise, would enable Esken to repay all outstanding bank debt, meet its ongoing working capital requirements, underpin its business plan going forward and meet certain of its legacy obligations."
Richard Hoskins, managing director, Carlyle Global Infrastructure, added: "We have been in detailed discussions with Esken for a number of months and are seeking final approvals to sign definitive transaction documents in the coming days that will allow us to work in partnership with Esken to develop London Southend Airport."