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Relaunch of Monarch Airlines suspended

Board of Directors: "Close to exhausting initial funding. We are looking for alternative paths"

The attempt to relaunch the British airline Monarch Airlines has been suspended. The corporate Group that tried to bring the iconic brand back to the skies, which failed in October 2017, announced in the past few hours that it paused the project. The company's social media accounts were also deleted. The notice came after just a couple of weeks in which the brand was back in the spotlight.

"It is with great regret that we announce that we have been forced to hold back the process of relaunching Monarch. This is not a decision we have taken lightly, however since we took over the business two weeks ago, we have come close to running out of funding. We have been looking for alternative paths, such as partial divestment of share capital, and will continue to do so. However, at present there is no practical option to move forward in the immediate future", the company said, as reported by the news portal "Simple Flying".

In mid-August, the company announced that it was attempting to resurrect the Monarch Airlines brand, with plans to re-operate in the leisure travel sector, where it operated air transportation services between 1967 and 2017. The new owner had set up a brand renewal plan and started negotiations to lease the aircraft, to return to the skies in 2024. All postponed, perhaps.

On the topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency