Monarch Airlines is this morning expected to seal a deal for around 30 jets to replace its short-haul fleet.
The airline is poised to announce an agreement worth a rumoured $3 billion at list price, with industry sources pointing to a deal for Boeing 737s.
A Monarch spokeswoman confirmed on Friday that the carrier’s management team would be at the Farnborough Airshow today and that a time for an announcement had been set. However, she added: “What we are announcing is still being decided.”
The spending spree is a major vote of confidence in the airline by its owners, Amerald Investments, controlled by Switzerland’s Mantegazza family, who were forced to inject £75m in 2011 as a rescue package.
The Monarch Group previously said that it was set to return to profit in 2013. Its airline is carving a niche as a ‘midway’ brand between the budget and charter carriers.
Sourced from TTG Digital