After the biggest UK airline collapse in years just a month ago, the administrator of the bankrupt Monarch Airlines has struck a deal with IAG over slots at Gatwick airport, valued at over €68 million. The sale has sparked an outrage among the passengers left stranded or without holidays by the airline collapse, majority of […]
International Airlines Group (IAG), the owner of British Airways, is purchasing the London Gatwick airport slots from the administrator of the recently-bankrupt UK carrier Monarch Airlines. British Airways, the largest airline in UK by the fleet size, is seen as the biggest beneficiary of the move as it allows expanding its presence at Gatwick. The […]
On November 22, Monarch Airlines won an appeal against a court decision that deprived the carrier of its rights over valuable airport slots. This allows the debt administrators to raise money for paying Monarch’s debts by transferring the slots at London’s Gatwick and Luton airports to other airlines. The Court of Appeal ruled that the […]
UK airline Monarch has settled worries over its immediate future by agreeing a £165m investment from Greybull Capital. The fresh financing has allowed the airline to renew its membership of the Air Travel Organisers’ Licensing (Atol) scheme – the scheme that refunds customers if a travel firm collapses. It also means the airline can invest […]
