Monarch quashes negative rumours

Eleanor Steed
By Eleanor Steed September 26, 2016 15:09

Monarch quashes negative rumours

A few tweets and the entire aviation industry has been expecting UK low-cost airline Monarch to collapse today.

There has been speculation over the weekend that the airline would be grounded as United Airlines appeared to have been approved to fly routes currently serves by Monarch between Spain and Manchester in the UK. This morning however Monarch has issued a statement confirming that it was “trading well” despite the difficult period post-Brexit and with the heightened terrorist threat.

monarch-4

Monarch Aircraft

Monarch stated that all flights are “operating as normal, carrying Monarch passengers as scheduled” but it added that the airline would be announcing a “significant investment from its stakeholders in the coming days”.

Monarch further commented that it expects to post £40 million in underlying earnings by the end of its financial year in October.

Investment firm Greybull Capital bought a 90% stake in Monarch in 2014.

 

 

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Eleanor Steed
By Eleanor Steed September 26, 2016 15:09