United Kingdom
Location of affected unit(s)
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51.1 - Passenger air transport

700 jobs
Number of planned job losses
Job loss
Announcement Date
24 October 2014
Employment effect (start)
1 April 2015
Foreseen end date


Monarch Airlines has announced details of a significant investment of £125 million from Greybull Capital, which has acquired a 90pc stake in the company. The company announced that with the takeover 700 jobs would be lost.

As part of the investment package, there will be some scaling back of activities. The fleet of aircraft will be reduced from 42 to 34 and from summer 2015 the company will no longer fly from East Midlands Airport. The company will operate from 5 UK airports: London Gatwick, Manchester, Birmingham, London Luton and Leeds-Bradford.

Previously union members had voted to accept a 30pc pay cut in order to keep the company viable. Of the 700 announced redundancies it is reported that two-thirds of these will be achieved by seeking volunteers. It is not known when the job cuts will take effect.


  • 25 October 2014: The Guardian
  • 24 October 2014: Monarch Airlines (Press Release)


Eurofound (2014), Monarch Airlines, Merger/Acquisition in United Kingdom, factsheet number 77764, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77764.