Monarch Airlines gets £165m lifeline to stay afloat

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Monarch Airlines has been granted an eleventh-hour reprieve after a £165m investment from its majority shareholder secured its future.

The cash injection from majority shareholder ensures low-cost carrier’s licence to operate will not be revoked by the Civil Aviation Authority.

Monarch had a Wednesday deadline to prove to the UK Aviation regulator, the CAA, that it had sufficient funds to continue operations.