Monarch looking good as large 737 or A320 order moves to final stages of negotiations

Monarch Holdings is back in the black. The airline, tour group and MRO which is controlled by Switzerland’s Mantegazza family, expects to post a pre-tax profit in the “mid-teens” for 2013 with turnover up 16% for the year to end of October 2013. The group has had a rough time of it of late and these results mark a significant turnaround form the £70m pre-tax loss in 2011. In a pre-close statement published on Wednesday, Monarch said all parts of its business, which also includes an aircraft engineering division, were back in profit after a two-year programme to remove £52m