Monarch confirms Boeing order as part of ‘evolution’
Monarch Airlines has confirmed an order for 30 Boeing 737 MAX 8s worth more than $3.2 billion at current list prices.
The order includes options for 15 additional 737 MAX 8s and marks the beginning of Monarch’s transition to an all-Boeing single-aisle fleet.
"Seven days after welcoming new owners into the business, this order represents a demonstration of our commitment to the future and the evolution of Monarch as a distinctive European scheduled leisure carrier," said Monarch Group CEO Andrew Swaffield.
"The Boeing 737 MAX 8 fits our network strategy of serving our traditional European leisure routes in greater frequency, providing increased choice and service for Monarch customers, with significantly improved unit costs to our business."
Monarch staff have already agreed to pay cuts of up to 30% as part of the company’s plan to evolve into a scheduled European low-cost airline.
Last month, Monarch Airlines and other parts of Monarch Holdings completed a restructuring programme under which 90% of the group was sold to Greybull Capital LLP.
It is now undergoing a ‘strategic review’ of all areas of the business, from operations to ownership and financing.
The Monarch Group has just announced the departure of Hugh Morgan, chairman of the Monarch Travel Group, after 12 years.
He joined the Group in 2002 as overseas purchasing and operations director for Cosmos Holidays and held director-level positions at Thomas Cook, Sunset Holidays, ILG and Intasun Holidays.
Hugh is a board director of ABTA and was awarded the 2014 Globe Travel Award’s Outstanding Achievement Award where he was described as, ‘One of the industry’s most experienced and respected operators who has taken the time to contribute massively to the governance and further path of the industry as one of its senior statesmen.’
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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