Monarch looks to Boeing for fleet renewal
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The Monarch Group has announced Boeing as its preferred partner to replace its narrow-bodied fleet.
The travel group has announced a potential contract of 30 Boeing 737 MAX 8s at the Farnborough Air Show with the planemaker, with the option to purchase another 15.
At list prices the deal would be worth US$3.1 billion, with deliveries to start in the second quarter of 2018.
The move is part of Monarch’s continued work to move away from the charter model to a scheduled low-cost airline.
Iain Rawlinson, executive chairman of the Monarch Group, said: “Today’s announcement is an important milestone in an exhaustive three year evaluation process, and a key part of The Monarch Group’s transformation and renewal. Boeing truly understood our business and put together a complete package that fits extremely well with our ambitions for the Group. With this announcement, we begin another chapter in our long and fruitful relationship with Boeing – something which now stretches over 40 years.”
Andrew Swaffield, managing director of Monarch Airlines added: “With this fleet replacement we are choosing the correct number of aircraft and the correct size of aircraft to help us create a year round efficient European operation which maximises profitability. Our process has been rigorous and fair and I am delighted to have been given the opportunity to lead it to a successful conclusion. Having reviewed all of the options in the marketplace, we concluded that the Boeing 737 MAX 8 is the aircraft that best fits our future route network strategy, enabling us to tightly control our unit costs whilst offering a superior service to our customers.”
The move sees Monarch move back to Boeing with its currently fleet in favour of Airbus made of 10 A320s, 27 A321s, two A330s and three Boeing 757.
“We look forward to finalising the order and can’t wait to see the Monarch livery on 737s once again. Today is a proud moment for everyone at The Boeing Company, as we welcome back a prestigious UK operator, and we are confident that the 737 MAX will play a significant role in Monarch’s continued success,” said Ray Conner, president and CEO of Boeing Commercial Airplanes.
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