Monarch to place large aircraft order
The Monarch Group is to buy 30 next-generation Boeing 737 MAX 8 aircraft worth US$3.1 billion (£1.8bn), and plans to acquire options to buy a further 15.
It is currently in the process of finalising terms and working towards signing a Purchase Agreement, it said.
The announcement represents the latest milestone in the transformation of Monarch Airlines from a traditional charter carrier to a scheduled low-cost airline, said the Group.
Over the past three years, the airline has been driving efficiencies to bring unit operating costs into line with its low-cost competitors over the medium term and to improve its customer service, including the introduction of the Olympics-inspired "WorldHost" customer service training.
"This process, and the plans announced today, will contribute significantly to both objectives, improving service levels and providing cost savings through fuel economy and better asset utilization," it said.
Managing director Andrew Swaffield, who joined the airline in April, said: "We see an opportunity to bring back warmth and a personal touch to a very commoditised European aviation market.
"Our size enables us to deliver on this promise. With this fleet replacement we are choosing the correct number of aircraft and the correct size of aircraft to help us create a year round efficient European operation which maximises profitability.
"Having reviewed all of the options in the marketplace, we concluded that the Boeing 737 MAX 8 is the aircraft that best fits our future route network strategy, enabling us to tightly control our unit costs whilst offering a superior service to our customers."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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