Monarch Airlines denies sale
Monarch Airlines has denied it is being sold, despite appointing Deutsche Bank to look at ‘inbound and outbound opportunities’.
Reports in the Sunday Times suggested that investment company Greybull Capital, which bought the airline in October 2014, was considering selling up after turning the airline around.
But a spokesman for Monarch said: "We can confirm there is no sale process.
"Monarch has executed a successful turnaround, is now a strong and stable business and is therefore ready to look at growth opportunities in Europe.
"In order to review relevant options thoroughly, Monarch has sought the assistance of Deutsche Bank who will look at both inbound and outbound opportunities."
The carrier, which flies about 6.6 million passengers a year, posted £40 million of underlying profits before interest and taxes for the year to the end of October.
It followed a £200 million cost-cutting programme.
The previous year, as Greybull bought the company, it reported a loss of £94 million.
Diane
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