EMCC European Monitoring Centre on Change

Monarch Aircraft Engineering

Company/Organisation:
Monarch Aircraft Engineering

Geographic Location

Country: United Kingdom

Company

Sector: Manufacturing
Other manufacturing, and repair and installation of machinery and equipment
33.16 - Repair and maintenance of aircraft and spacecraft

Employment Effects

Announcement Date: 04-01-2019
Planned Job Reductions min: 450
Planned Job Reductions max: 450
Type of Restructuring: Bankruptcy

Additional Information

Monarch Aircraft Engineering has announced it is to cut 450 jobs after entering liquidation. The business which was bought by private equity firm Greybull Capital following the collapse of Monarch airlines in 2017 and was the last working part of the failed airline. A spokesperson for the administrator commented that the business had taken on significant legacy debts when it emerged from the previous company, and although efforts had been made, including a company voluntary arrangement, it was not possible to continue with the business. The administrator also noted that job fairs would be held in the near future in London and Birmingham to try to help affected employees find suitable alternative employment.

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