Monarch profit flightpath
HOLIDAY airline Monarch Group said it was on course for a profit this year after narrowing its half-year loss by nearly 37 per cent.
Monarch are on course to seeing a profit this year
Monarch, owned by investment firm Greybull Capital, said its turnaround was "firmly on track".
Self-help measures including modernised working practices and fleet and network restructuring reduced winter losses by £30million with a further £10million savings coming from lower fuel costs.
We have seen good summer sales
Monarch's interim deficit fell from £110.6million to £69.9million.
Chief financial officer Barry Nightingale added: "We have seen good summer sales."