Monarch Airlines secures funds to continue flying
British airline Monarch said a 165 million pound investment from majority shareholder Greybull Capital had secured its future by allowing the low-cost carrier to renew a key operating licence.
The investment was agreed just hours before its operating licence lapsed, enabling the carrier to continue flying. Monarch warned in September that security concerns and the devaluation of the pound against the euro after Britain's vote to leave the EU in June had made market conditions difficult.
The Luton-based carrier, which mainly sells holidays and flights to Britons travelling to Spain, Italy... read more
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