Airline Monarch keeps Atol licence after £165m cash injection at the 11th hour

Airline Monarch keeps Atol licence after £165m cash injection at the 11th hour
 

The 11th-hour rescue came hours before a deadline to demonstrate it had sufficient funding to renew its air travel organisers’ licensing for another year from the Civil Aviation Authority (CAA).
The Atol scheme refunds customers if a travel firm collapses and securing the licence means the Luton-based group, which carries about six million passengers a year, can continue flying travellers on Atol-protected deals as well as those booking flights only.
The funding will also enable Monarch to fund future growth plans.
It has an order for 30 Boeing 737 MAX-8 aircraft, with options for a further... read more

 
13 October 2016 in Business, Views: 46
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