Latest report this afternoon is that the family will not pay any dowry or resolve the pension shortfall, only that they will delivery the business in an agreed state??
quote
However, Greybull Capital’s involvement in refinancing the airline is likely to prove contentious - the investment firm was involved in the collapse of Comet, the electrical chain, two years ago.
Monarch revealed this morning that it is in advanced talks towards a takeover by Greybull which will assume control of the business from Switzerland’s wealthy Mantegazza family, who are exiting. Greybull will inject funds through a convertible loan, which will turn into equity if a turnaround plan is successful.
I wish them well, but the only long term value i see is the engineering business, trying to take on Easyjet/Ryanair is a mugs game when you are a minnow and moving from your own turf into their's, yep its a well known brand but so Comet, certain irony in the Comet name......