Failed carrier Monarch investor Greybull would repay rescue bill

The former owner of failed Monarch said Sunday it had a moral obligation to repay some of the bill to bring passengers home if it profits from the administration of the carrier. Monarch collapsed Oct 2, causing the cancellation of hundreds of thousands of holidays and marooning more than 100,000 tourists abroad. A repatriation programme was estimated to have cost the British govt about US$79m. Transport minister Chris Grayling had said that Greybull Capital should contribute to the cost of bringing the holiday-makers home, although there was no formal mechanism to demand the investment company did so. Greybull, which bailed out Monarch a year ago, pledged to defray some of the costs in a letter to lawmakers. <br/>