News

Customer Contact

UK airline Monarch has settled worries over its immediate future by agreeing a £165m investment from Greybull Capital.

The fresh financing has allowed the airline to renew its membership of the Air Travel Organisers’ Licensing (Atol) scheme – the scheme that refunds customers if a travel firm collapses.

It also means the airline can invest in new aircraft. Greybull Capital is Monarch’s majority shareholder and is also known for its investment in Scunthorpe’s steelworks. It bought a majority stake in Monarch in 2014, with an investment of £125m.

“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,” said Andrew Swaffield, chief executive of the Monarch Group.

In October 2014, Monarch announced an order for 30 of the latest Boeing 737 jets, with an option to buy 15 more. It expects to take delivery of the first of those in 2018.

You may also like...

Keep Up To Date - Subscribe To Our Email Newsletter Today

Get the latest industry news direct to your inbox on all your devices.

We may use your information to send you details about goods and services which we feel may be of interest to you. We will process your data in accordance with our Privacy Policy as displayed on our parent website https://ebm.media