Monarch Airlines denies Twitter-based insolvency rumours
Holiday carrier Monarch Airlines was working to reassure customers and the market that it was fully operational on Monday morning, after widespread speculation over the weekend that it was going over the brink.
The airline - majority owned by secretive City investment firm Greybull Capital - issued a statement saying it was trading well, even though the industry was in a period of difficulty.
Monarch’s Twitter account was filled with speculation from customers on Saturday and Sunday, asking it about its financial health, and whether their booked holidays were safe.
The firm said on Monday that it was in good shape, and expected to post more than £40m in underlying earnings for the financial year through October.
“Our flights are operating as normal, carrying Monarch passengers as scheduled,” the statement read.
"To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days.”