Work on the administration of the Monarch Group has come to an end, meaning the airline and associated brands are now officially dissolved.
Monarch and seat-only brand Avro collapsed in October 2017, prompting a massive repatriation effort.
Since then, KPMG has been working on the administration of the Monarch brands and recovering any monies due to them.
The administrators’ final report reveals the sale of Monarch’s slots at airports including Luton, Manchester and Gatwick made £54 million.
Monarch Group had £27.8 million in cash at the time of its collapse, the majority from the airline and £5.1 million from Monarch Holidays. In addition, “cash collateral” of £1.4 million was also regained.
Preferential creditors – usually employees - were paid in full, but unsecured creditors received nothing.