lans to resurrect Monarch Airlines six years after it failed have collapsed because of a scarcity of cash.
An organization named Monarch Airlines Limited launched an internet site and exercise on social media earlier this morning, pledging to “usher in a new era for one of the UK’s favourite travel brands”.
We have been looking for different routes
But on Thursday, a press release from its board learn: “It is with immense regret that we announce today that we have been forced to put the brakes on our process to relaunch Monarch.
“This is not a decision that we have taken lightly, however since taking over the business two weeks ago we have drawn close to exhausted (sic) the start-up funding provided to us far more rapidly than anticipated.
“We have been seeking alternative routes, such as partial divestment of share capital, and will continue to do so, however at the current stage there is no practical option to move forward in the immediate future.”
This was simply sooner or later after Daniel Ellingham, chairman of the brand new firm, wrote on LinkedIn: “We are redesigning Team Monarch alongside our strategic brand partner to bring a new and ‘Great British’ crown to UK skies.”
It is just not recognized who was investing within the marketing strategy.
When the unique Monarch collapsed in October 2017, it was Britain’s fifth-largest airline carrying as much as six million passengers a 12 months.
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