The airline’s latest full-year accounts (signed off by chief executive Andrew Swaffield on August 1) reveal a £102 million writedown on the value of its Airbus aircraft, plus a further £198 million provision for “onerous aircraft leasing contracts”.
Monarch’s financial difficulties last year led to delays in the Civil Aviation Authority re-granting its Atol.
For the year ended October 31 2016 the group reported a profit before tax, exceptional items and fair value movements of £12.9 million.
The loss before tax, after exceptional items and fair value movements was £291.1 million, compared to a profit of £26.9 million in 2015.
