Greybull to sell MAEL

Private equity group Greybull Capital has put Monarch Aircraft Engineering up for sale. MAEL had survived the collapse of its parent airlines, Monarch Airlines, which collapsed in 2017, but has struggled to shed its historic debts and entered into a company voluntary arrangement (CVA), a form of insolvency, last month. MAEL stated that the CVA led to the loss of some customers. “A CVA, completed in November to resolve historic debt which did not relate to the company’s day-to-day operation, has resulted in some loss of custom which has presented the business with a number of challenges which need to