Monarch has announced the biggest investment in its 48 year history as it seeks to allay concerns over its financial viability. The carrier has received a £165 million investment from its majority shareholder, Greybull Capital. As a result of this investment Monarch has successfully renewed its ATOL licences from the CAA for the next 12 months and funded future growth plans.
Monarch has confirmed that its Chief Financial Officer, Barry Nightingale, has decided to leave the business and will make the transition at the end of January. Chris Bennett, currently Deputy CFO, will be appointed as the new Chief Financial Officer.
The board of Monarch Holdings has announced today that Greybull Capital has been selected as the preferred bidder to acquire Monarch from the group’s shareholders, principally the Mantegazza family. Greybull is a family office with a focus on investing in private companies across a diversified range of industry sectors.
The Monarch Group has announced the appointment of Andrew Swaffield as managing director of its scheduled airline, Monarch Airlines, with effect from April 1st 2014. Swaffield joins Monarch Airlines from Avios Group, where he was managing director for seven years from 2006.
MAG, the owner of East Midlands Airport, and Monarch Airlines have announced an agreement to introduce flights to Malaga, Alicante, Palma and Faro from late summer 2012.
Scheduled leisure airline Monarch is launching new routes to Dubrovnik in Croatia and Heraklion in Crete. The flights will operate from Birmingham and London Gatwick airports from 1st May 2012 with fares starting from £29.
Scheduled leisure airline Monarch is launching new daily flights from London to Barcelona today, increasing to 11 flights per week from 30 October 2011, bringing the total number of scheduled destinations served by the airline from Gatwick to 13.
The scheduled leisure airline Monarch has launched new daily flights to Barcelona that will operate from 21 October with prices starting at £36 one way.
Leisure airline Monarch has increased its programme of flights from Manchester to Egypt’s Red Sea resort of Sharm el Sheikh this winter due to phenomenal demand from its customers.
Customers will be able to choose between two Monarch Air Packs, a Value Pack and a Comfort Pack, combining extras such as allocated seating and inflight meals and offering savings of over £50 for a family of four on a return flight.
Monarch, the scheduled leisure airline, has abolished the fees it charges passengers for using debit cards to book flights. The move is expected to put pressure on its rivals to follow its lead. The carrier is instead introducing a fixed fee for all credit card bookings.
The Monarch Travel Group has appointed travel money experts CorporatePay, to develop a range of travel money services for its customers including prepaid currency cards for Eurozone and Worldwide travel and a currency delivery service.