Monarch says its flights are operating as normal

Thursday, 26 Sep, 2016 0

Monarch has issued a statement saying its flights are operating as normal, and speculation on social media that the company is about to go bust is not true.

Twitter and Facebook were rife yesterday afternoon and evening amid reports of aircraft being flown in from the US to repatriate Monarch passengers abroad.

It’s believed Monarch had been in talks with the Civil Aviation Authority about its financial position, but the company said rumours that it was going bust were ‘simply untrue’.

The Luton-based company said a significant investment would be announced in the coming days and it is understood this injection of money will be enough to satisfy CAA requirements.

It said in a statement: "Our flights are operating as normal, carrying Monarch passengers as scheduled.

"To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days."

Monarch suffered financial difficulties two years ago but was saved when investment firm Greybull Capital bought a 90% stake in the company.

Lisa

Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.

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