UK airline Monarch has agreed for a £165m investment from Greybull Capital. It has allowed the airline to renew its membership of the Air Travel Organisers’ Licensing (Atol) scheme which refunds customers if a travel firm collapses.
Greybull Capital is Monarch’s biggest shareholder and is also known for its investment in Scunthorpe’s steelworks. It acquired a majority stake in Monarch in 2014 with £125m.
Terror attacks in these regions have affected the airline’s flights to the western Mediterranean, Egypt and North Africa. On top of those short-term trading challenges, Monarch remains caught between the big low-cost airlines EasyJet and Ryanair, and the in-house airlines owned by the big tour operators including Tui and Thomas Cook.