According to Sky News, conglomerate HNA Group, which owns Hainan Airlines, is in talks to buy a minority stake and has hired bankers to help facilitate a possible deal.
However, Monarch owner Greybull Capital poured cold water on the rumours of a possible sale.
"In order to review relevant options thoroughly, Monarch has sought the assistance of Deutsche Bank who will look at both inbound and outbound opportunities," a spokesperson for Greybull Capital told Sky News.
"We confirm there is no sale process."
Sky News said that HNA had held talks with the Monarch management team but that the likelihood of the deal going through was unclear.
Greybull Capital has recently stepped in to take control of part of Tata’s UK steel business.
