Clear
0 Selected+
Filters
Air
Luxury
Regulation
Operators
Agencies
City and finance
Destinations
Skills
Cruise
Technology

Hello! You are viewing your 1 free guest article this week


Please log in or join now for free, immediate and unlimited access to our award-winning online content. Find out more...

Join us
Already a member? Log in here

News

30 Sep 2016

BY Edward Robertson

Share
TRFBLI

Monarch reported to be in Atol talks with CAA

Monarch Airlines is reported to be in a race against the clock to secure a “multimillion-pound cash injection” before its licence to fly expires.

Monarch Aircraft
Sharelines

Monarch reported to be in Atol talks with CAA

As like many other operators, the carrier has until midnight tonight to renew its Atol, and must show that it has enough money to operate for three months in order to secure the licence.

 

The Guardian reports that Monarch may be able to seek a temporary extension to its licence from the CAA if it can show it is close to funding.

 

The airline has been in talks with the CAA following concerns about its financial health.

 

Monarch reacted on Monday with a statement which insisted: “Monarch is trading well and is expected to achieve an Ebitda of over £40 million at the end of this financial year (October 2016).

 

“This is despite a difficult period for the holiday industry due to terrorist incidents, Brexit and the resulting devaluation of sterling. Our flights and holidays 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.”

 

A spokesperson for the airline refused to comment on any potential talks over the licence renewal.

Air
Add New Comment
Please sign in to comment.
Show me more
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
Scroll To Top