Monarch modifies Boeing 737 deal
Monarch Airlines is understood to have converted its order for Boeing 737 MAX8s into a sale-and-leaseback deal. The carrier, which Oct 12 announced it had received a GBP165m (US$203m) injection from majority shareholder Greybull Capital that allowed it to keep flying, placed the order for 30 MAX 8s, together with 15 options, in Oct 2014. The first is scheduled to be delivered in 2018. Neither Monarch nor Boeing would comment on modifications to the order, but Monarch has converted the purchase to a sale-and-leaseback arrangement involving a third party. Monarch CE Andrew Swaffield said the carrier has “had Boeing’s cooperation around restructuring certain aspects of our purchase agreement.” Doing so would ease financial pressures on the airline. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-10-17/unaligned/monarch-modifies-boeing-737-deal
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Monarch modifies Boeing 737 deal
Monarch Airlines is understood to have converted its order for Boeing 737 MAX8s into a sale-and-leaseback deal. The carrier, which Oct 12 announced it had received a GBP165m (US$203m) injection from majority shareholder Greybull Capital that allowed it to keep flying, placed the order for 30 MAX 8s, together with 15 options, in Oct 2014. The first is scheduled to be delivered in 2018. Neither Monarch nor Boeing would comment on modifications to the order, but Monarch has converted the purchase to a sale-and-leaseback arrangement involving a third party. Monarch CE Andrew Swaffield said the carrier has “had Boeing’s cooperation around restructuring certain aspects of our purchase agreement.” Doing so would ease financial pressures on the airline. <br/>
