NEWS Monarch Airlines sees 700 job losses as Greybull Capital takes over

Monarch Airlines has confirmed it will cut 700 positions as the battle to save the company continues. Staff have agreed to the redundancies, along with pay cuts of around 30 per cent, as the Luton-based carrier struggles to stay afloat. Earlier the Mantegazza family, which has owned Monarch since the 1960s, agreed to sell the carrier to Greybull Capital.