18 AUGUST 2014
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Luton-headquartered leisure carrier Monarch Airlines is to change focus and is to gradually concentrate on its scheduled activities. Last week it announced the closure of its East Midlands Airport base and during Farnborough week confirmed an order for 30 Boeing 737 MAX aircraft (see BTN 28 July) with deliveries starting in 2017.
In April new CEO Andrew Swaffield arrived, one time head of leisure at British Airways, and in July Sir Roy McNulty, a former Chairman of the CAA, was appointed to the same position at Monarch, but non-executive.
In a statement the airline said the change is “part of the next phase in Monarch’s transformation to become a scheduled European low-cost carrier.” Most East Midlands flights will move to Birmingham Airport, arguably better positioned, with its own railway station, and benefitting from a recently extended runway.
The Monarch Group, which includes tour companies and an aircraft engineering arm, is largely owned by the Swiss Mantegazza family, which was founded in the early 1960s. It is said to be looking at re-financing the airline. www.monarch.co.uk
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