Monarch is looking to expand its fleet by at least a third as it moves from a package holiday company to a fully-fledged scheduled airline.
Currently, Monarch has 30 aircraft but its chief executive, Conrad Clifford, said he will look to increase this by at least 10 over the next five years. Including spare parts, this could cost the company around $400m. Owned by the Swiss Mantegazza family, the company has run package holidays with non-scheduled chartered flights since 1967. But with passengers now keen to book flights and accommodation separately, Monarch has decided to take on the likes of easyJet and Ryanair.