Monarch Airlines (1968) (London Luton) parent, the Monarch Group, has announced it has secured a GBP165 million (USD204 million) investment from its majority shareholder, Greybull Capital.

In the statement issued on Wednesday, October 12, the leisure travel firm said the investment had allowed it to renew its Air Travel Organizer's Licence (ATOL) for another twelve months and would fund its future growth plans.

It is recalled the United Kingdom's Civil Aviation Authority (CAA) had given Monarch Group until October 12 to resolve its financial issues or risk losing its ATOL status.

“It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our ATOL licences," Andrew Swaffield, Chief Executive Officer of The Monarch Group, said. “I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”

Seabury Group LLC and Seabury Securities (UK) Ltd. served as financial advisor with respect to the recapitalisation.