Monarch confirms largest investment in its 48yr history with GBP165m from Greybull Capital

Monarch announced (12-Oct-2016) the biggest investment in its 48 year history, a GBP165 million investment from its majority shareholder, Greybull Capital. As a result of this investment Monarch has successfully renewed its ATOL licences from the UK CAA for the next 12 months and funded future growth plans. The carrier also noted that the first of 30 Boeing 737 MAX-8 aircraft ordered in Oct-2014 is due to be delivered in 2018. The carrier also has options for a further 15 aircraft. Monarch Group CEO Andrew Swaffield 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." Seabury Group LLC and Seabury Securities (UK) Ltd. served as financial advisor with respect to the recapitalisation. [more - original PR]