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ROYAL REPRIEVE Monarch Flies Out Of Trouble?

Tuesday October 11, 2016

ROYAL REPRIEVE Monarch Flies Out Of Trouble?

The current uncertainty surrounding the future of Monarch Airlines is expected to be resolved tomorrow as the owners Greybull Capital and aircraft manufacturer Boeing swoop in with a joint rescue package, just as the airlines recently extended ATOL licence is set to expire.

Monarch was initially rocked by insolvency rumours on social media a fortnight ago, but since then their owners and Boeing have been locked in talks to create a massive injection of funding sufficient to satisfy the aviation authorities that the airline remains a solvent concern.

Monarch bosses have already reassured staff that the £165 million rescue package will go through tomorrow, on October 12th, just as their existing ATOL licence expires. Thanks to a large cash injection from Greybull, who own 90% of the company and Boeing. Who have agreed to a sale and lease arrangement on an existing order of 45 new aircraft, so releasing cash funds back into the company.

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