Posted on: 12 October 2016 by Mark Howells
Monarch has announced that its majority shareholder, Greybull Capital, is investing £165 million in the carrier, marking the biggest investment in Monarch’s 48-year history.
As a result of this investment, Monarch has successfully renewed its ATOL licences from the Civil Aviation Authority (CAA) for the next 12 months and is now able to fund future growth plans.
In October 2014, Monarch announced an order for 30 Boeing 737 MAX-8 aircraft, with options for a further 15 of the type. The first of these aircraft is due to be delivered in 2018.
Andrew Swaffield, CEO of The Monarch Group, commented, “It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our ATOL licences.
“I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”