UK carrier Monarch Airlines were said to be in the process of a radical overhaul of its business strategy as it held discussions with regulators regarding the annual extension of its tour operators licence.
SkyNews claimed that Monarch was in the process of working out sale and restructuring options to its short-haul business with KPMG for a joint venture or feeder deal with another airline before the Civil Aviation Authority (CAA) had completed its annual review of the package holiday providers Air Travel Organiser’s Licence (ATOL) at the end of September.
A spokesman for Monarch said, “In recent months we have undertaken, and continue to undertake, a comprehensive review of Monarch designed to determine its optimal future…
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