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Rumours over the weekend about the low cost airline and its financial troubles, have lead Monarch to issue a statement today denying the rumours, and that everything is OK.

Their official statement on Twitter this morning reads.

Over the weekend, there has been negative speculation about Monarch’s financial health.

Monarch is trading well and is expected to achieve an EBITDA of over £40m at the end of this financial year (October 2016). This is despite a difficult period for the holiday industry due to terrorist incidents, Brexit and the resulting devaluation of sterling.

Our flights and holidays are operating as normal, carrying Monarch customers as scheduled.

To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days.

A couple of posts I have noticed on Facebook, believe the company are moving planes around, which is out of the normal.

monarch1 monarch2

Lets hope this all ends good, as they are one of the many airlines that fly to Madeira.