Monarch retains its flying licence after a mad rush to secure financing from backers Greybull Capital
Airline Monarch has secured a last minute £165million cash injection from its private equity owner, allowing it to retain its operator's licence and carry on flying.
The Luton-based group had faced a deadline of midnight tonight to secure fresh funding or risk being unable to renew its Atol licence.
Alongside the news of the investment from private equity firm Greybull Capital - the biggest in the airline's 48-year history - Monarch also said it would take delivery of the first of 30 Boeing 737 MAX-8 aircraft in 2018.
Monarch's chief executive Andrew Swaffield said: 'It is testament to the... read more
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