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How Monarch’s reign came to an end
Monarch Airlines went bust earlier this month after being acquired by Greybull Capital – a private equity firm with an inglorious history. LAURENCE PLATT reports

THE collapse of Monarch Airlines appears to have come out of the blue, but the straws were in the wind for at least two years. 

In 2014 Greybull Capital bought a 90 per cent share in the company from former owners the Swiss-Italian Mantegazza family, with a view to turning it round to make a profit. 

As reported in the Independent in 2016, Greybull injected £25 million into the airline in return for the 90 per cent share in expectation of turning a loss of £90m to a profit of £40m.

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