EasyJet makes surprise bid for Monarch

UK low-cost carrier, EasyJet is reported to be bidding for UK budget airline Monarch, according to a report in The Sunday Times yesterday. Monarch is owned by Greybull Capital, which rescued the airline in October 2014 with an injection of new capital for a 90% stake. The company has succeeded in cutting costs and putting the airline back into the black, aided by the falling oil price. Monarch stated that it is its current success that has “generated inbound interest” and that Deutsche Bank is “continuing to work with us to evaluate both inbound and outbound opportunities”. China’s HNA group