Marks Successful Renewal Of ATOL License From The U.K. CAA

Monarch, an independent airline group in the U.K., has announced the biggest investment in its 48 year history, a £165 million (approx. $201 million) investment from its majority shareholder, Greybull Capital.

As a result of this investment Monarch has successfully renewed its ATOL licences from the CAA for the next 12 months and funded future growth plans.
 
In October 2014, Monarch announced an order for 30 Boeing 737 MAX-8 aircraft, with options for a further 15 planes. The first of these aircraft is due to be delivered in 2018.

“It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our ATOL licences," said Andrew Swaffield, Chief Executive Officer of The Monarch Group.
 
“I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”

(Source: Monarch Airline news release. Image from file)

FMI: www.monarch.co.uk