Retrosgone
Very well put, I don't think anything has changed and certainly not for the better, with the exchange close to parity, certainly at travel shop exchange rates, anyone heavily dependant on UK business like Monarch,Jet2 and also easyJet are going to find it a tough market in 2017, whilst Jet2 will likely see an improvement to their all inclusive Jet2holidays, Monarch have repositioned themselves as a point to point low ( but not low enough) cost airline, this winter will be brutal for them, Ryanair & Norwegian have a much larger exposure to the European city market and that will grow because it's never been cheaper to visit and spend in the UK but Monarch don't have the brand awareness outside of the UK.
It reads very much like a sell and lease back deal on these 737's in much the way that Sir Michael Bishop did with the bmi group where aircraft were owned by an inhouse ( in Bishopshouse) leasing company and leased to the airline at high lease rates, transferring profit from the airline to the finance house, all well and good and many companies do similar things, but it doesn't help the cost base in a cut throat market up against the big boys
Anyway at least they get to live another year