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Monarch confirms 'momentous' $1.7bn Boeing 737 order

UK carrier Monarch Airlines has put its recent travails behind it after confirming a significant new order of Boeing 737 aircraft as it continues to renew its fleet.

The airline, which is based out of London Luton Airport, has exercised an option on a further 15 Boeing 737 MAX 8s, taking total new orders to 45 with the first delivery of new planes expected by early 2018.

Announced as part of the illustrious Paris Air Show taking place from 19 to 25 June, the new order is valued at $1.7bn based on current list prices and will form a key plank in Monarch’s fleet regeneration efforts which will see an entirely new fleet of craft operational by the end of 2022.

Monarch’s Chief Executive Officer, Andrew Swaffield, described the deal as a ‘momentous day’ for the business, which secured new investment earlier this year after rumours swirled the carrier might go out of business.

Staffield said: ““The decision to exercise our option for an additional 15 737 Max 8 aircraft is a clear illustration of confidence in Monarch’s future success. By the end of 2022, Monarch will have a completely new, modern fleet which will transform both the airline and the customer experience.

“The highly fuel-efficient fleet will also help Monarch reduce its environmental impact and add £100m-a-year to our bottom line from lower fuel and servicing costs.”

Confirmation of the new order has also coincided with the launch of a new joint venture between Boeing and Monarch whereby the two firms will collaborate on securing additional third-party fleet servicing agreements.

Monarch Aircraft Engineering, which has been servicing aircraft across the world for the last 50 years, will leverage Boeing’s worldwide reach and pulling power to explore opportunities for maintenance, repair and overhaul services for third party fleets.

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