UK airline Monarch denies speculation it is in financial trouble

London: British airline Monarch Airlines said it was operating normally and was on track to make a profit this year, after questions were asked about its future on social media. “Our flights are operating as normal, carrying Monarch passengers as scheduled,” the airline said in a statement on Monday. Monarch, owned by investment firm Greybull Capital, said that security concerns, and the devaluation of the pound against the euro resulting from Brexit, had made market conditions tougher, and to help fund its growth, it expected to announce an investment “from its stakeholders” in the coming days.

Despite the difficulties, Monarch said it was on track to post core earnings (EBITDA) of more than £40 million (Dh190.35 million) in the year ended October 31, in line with a forecast given last year.