Monarch Airlines reportedly set for comeback
UK airline Monarch, which fell into administration six years ago, is reportedly set to return as a “premium alternative to low-cost leisure carriers”.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
The business has been restored at Companies House, while social media activity over the weekend said the airline and holiday brand had been “passed into new ownership” with posts featuring the tagline “Lets Monarch”.
Speaking about the relaunch, Daniel Ellingham – who has been appointed the chairman of the company – told industry publication Airways: “I am honoured to be able to lead the iconic brand into a new era, now 55 years after it first took to the skies...It is immensely rewarding to know that we are soon going to launch a new and strong company for the UK tourism sector.”
It would mark a remarkable comeback for what was Britain’s fifth biggest airline when it collapsed back in October 2017, having expanded to offer scheduled flights alongside its package offering. At the point it went under, the business owed £466m and left 110,000 holidaymakers stranded abroad.
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