Submitted on Tuesday 10th October 2017
Published on Tuesday 10th July 2018
Current status: Closed
Closed: Thursday 10th January 2019
Signatures: 11
Examine Greybull's actions in respect of insolvency of Monarch Airline/Holidays.
Monarch ceased trading on Monday 2 October 2017, leaving 2,000 employees without jobs and 860,000 passengers without flights. This is Greybull’s third venture that has failed and the largest failure in British aviation history.
We question the entire involvement of Greybull Capital in respect of Monarch. From reports it would appear that both prior and post insolvency the UK Government have pumped millions of pounds into Greybull Capital and although Greybull state they have lost out in excess of £100 million it is reported that Monarch had £48 million in the bank and aircraft take off and landing slots will be worth at least £60 million to Greybull. These figures alone equate to greater than £100 million.
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