In its pre-close trading statement released today, Monarch insisted that group performance remained “in line with our expectations with a likely Ebitda of £48 million”, compared with £74 million in 2015.
Monarch’s bookings for summer 2017 however are currently up 40% year-on-year, while flight only bookings are up 10%.
The group also announced the launch of new flights to Porto, Zagreb and Stockholm in April 2017.
In October the group secured a £165 million investment from its majority shareholder Greybull, which prompted the company to remove the requirement to Atol protect its flight-only bookings – a move which came into effect on December 15.
Monarch predicts £26m fall in profits as 2016 proves a 'challenging year'
Operators
Sophie Griffiths
16 December 2016
The Monarch Group is expecting a £26 million fall in profits in 2016 compared with the previous year, as it admitted 2016 had proved a “particularly challenging year”.
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