The Monarch Travel Group have been in the press recently with regards to their CAA and ATOL Licence, we have the following information for you.
Great news that Monarch have secured funding and now can continue their growth as planned.....
£165 MILLION INVESTMENT IN MONARCH
We are delighted to announce that Monarch has secured significant investment which has enabled them to renew their ATOL licence.
The following statement has been released:
Monarch, a leading UK independent airline group, today announces the biggest investment in its 48 year history, a £165 million investment from its majority shareholder, Greybull Capital.
As a result of this investment Monarch has successfully renewed its ATOL licenses from the CAA for the next 12 months and funded future growth plans.
In October 2014, Monarch announced an order for 30 Boeing 737 MAX-8 aircraft, with options for a further 15 planes. The first of these aircraft is due to be delivered in 2018.
The arrival of these state-of-the-art, fuel efficient aircraft in less than two years’ will enable Monarch to continue to provide passengers with a best in class inflight experience and allow the company to enjoy significant operational cost savings.
Andrew Swaffield, Chief Executive Officer of The Monarch Group, commented: “It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48 year history, as well as the renewal of our ATOL licences.
“I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”
Please feel free to contact the team at Destination for information, keep an eye on our website for other news and offers.