Airline Monarch retains operating licence after £165m cash injection
Monarch has secured a £165 million cash injection from its owner, Greybull Capital, allowing it to retain its licence to operate.
The airline had faced a midnight deadline to secure fresh funding or risk being unable to renew its Atol licence.
On Wednesday the group said that, alongside the investment - the biggest in its 48-year history - Monarch would take delivery of the first of 30 Boeing 737 MAX-8 aircraft in 2018.
Chief executive Andrew Swaffield said: "It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest... read more
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