Monarch Airlines asks for investment, but 'not in danger'

Mon, 26 Sep 2016 | BUSINESS NEWS

Monarch Airlines has officially reacted to speculation over the weekend that the firm was in imminent danger of collapsing into administration.

A statement placed on the company website by the airline’s press office states:

“Our flights are operating as normal, carrying Monarch passengers as scheduled.

To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days."

The shareholder it is referring to is most likely to be Greybull Capital, which owns a 90 per cent stake in the airline, having already pumped £125 million of capital into the company in 2014.

The Monarch press release stated that the airline expected to make £40 million profit in the current financial year. The airline commented, "this is despite a difficult period for the holiday industry due to terrorist incidents, Brexit and the resulting devaluation of sterling".

The company’s social media staff seem to be working double-time to personally address comments made on Twitter suggesting the airline was about to close its doors: "the rumours are not true, all Monarch flights are operating as normal."


Share this article



Latest Businesses for Sale

Natural Stone Supply Company: Sourcing/Processing/Distribution
Aberdeenshire, Scotland, UK

This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.

Asking Price: £1,050,000
Turnover: £1,100,000

RELOCATABLE


Precision Engineering Business
North West, UK

Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

LEASEHOLD


Accountancy Business
UK Wide

High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...

Asking Price: £1,300,000
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
20
 
Sep
 

Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE

Thomas Cook Group is reportedly trying to piece together a l...

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources