£125 million sale keep Monarch flying

MONARCH HOLDINGS Limited has completed its sale to Greybull Capital, securing £125 million in permanent capital and liquidity facilities.

The Civil Aviation Authority has also renewed the group’s ATOL licence.

Under a new CEO, Monarch started a strategic review in the summer which has reduced its fleet size, secured a new Boeing order, and moved to stop its long-haul and charter flying by April 2015. 

Instead the carrier will focus on short-haul European leisure routes from Gatwick, Manchester, Birmingham, Luton, and Leeds Bradford.

Its East Midlands services will stop in summer 2015.

Go Holiday news : www.govillasandcottages.co.uk
All your holiday needs: IN PRINT - ON-LINE - DiGiMAG - SMARTPHONE -TABLET - BLOG - TWITTER - G+ - FACEBOOK