Monarch Airlines has finalised its order for 30 Boeing 737 MAX 8s worth more than US$3.2 billion at list prices.
The order has been firmed following an initial agreement arranged at Farnborough International Air Show in July and includes options for 15 additional aircraft.
Deliveries of the new aircraft will start in the second quarter of 2018.
“Seven days after welcoming new owners into the business, this order represents a demonstration of our commitment to the future and the evolution of Monarch as a distinctive European scheduled leisure carrier. The Boeing 737 MAX 8 fits our network strategy of serving our traditional European leisure routes in greater frequency, providing increased choice and service for Monarch customers, with significantly improved unit costs to our business,” said Andrew Swaffield, CEO of Monarch Group.
The agreement will see Monarch move into becoming an all single-aisle aircraft airline and is part of a wider strategy that will see the carrier focus on short-haul leisure routes.
Swaffield added: “By 2020 Monarch will have the most cost-effective and uniform fleet serving Monarch’s heartland of scheduled short-haul European leisure routes, with increased average frequencies, aircraft utilisation, productivity and profitability. This order is part of a new strategic direction and exciting plan for the future of Monarch.”
Todd Nelp, vice president of European sales at Boeing Commercial Airplanes, said: “The 737 MAX is the perfect airplane for Monarch as it moves its business model from a traditional charter carrier to a European scheduled leisure airline, offering improved efficiencies, high reliability and an outstanding passenger experience. We are honoured that Monarch has chosen Boeing as its future partner and are dedicated to ensuring this iconic operator’s continued success.”