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

Forklift Truck Manufacturer
South East, UK

The company provides a range of forklift truck solutions including sales, repairs, servicing, manufacturing and hire. Designs and manufactures its own branded forklifts with an extensive product range including reach trucks, order pickers and tow tra...

Asking Price: Offers Invited
Turnover: £6,000,000

LEASEHOLD


IT & Technology Recruitment Solutions
South East, UK

Multiple opportunities for growth and international expansion. Operates from leasehold premises. Our clients are offering the business for sale to facilitate further growth under the impetus of new ownership. Offers invited.

Asking Price: Offers Invited
Turnover: £2,000,000

LEASEHOLD


Brand Leading Outdoor Catering Appliances Manufacturer
North West, UK

Modern, well-positioned UK-based freehold premises to be included in sale. Genuine scope for further growth with development of existing product range and the addition of a sales function. Offers invited.

Asking Price: Offers Invited
Turnover: £563,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
May
 

Food-to-go supplier calls in administrators | ADMINISTRATION

Adelie Foods, one of Britain’s biggest suppliers of sa...

 
26
 
May
 

Luxury fashion brand DVF Studio enters administration | ADMINISTRATION

DVF Studio, the UK business of fashion designer Diane von Fu...

 
24
 
May
 

Over 50 hotels and travel brands up for sale as leisure company collapses | ADMINISTRATION

The parent company of coach holiday company National Holiday...

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