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UK airline Monarch on track to meet 2016 earnings forecast
December 16, 2016 / 7:27 AM / a year ago

UK airline Monarch on track to meet 2016 earnings forecast

LONDON, Dec 16 (Reuters) - British airline Monarch confirmed its forecast for annual earnings, after what it called a challenging year during which its majority shareholder had to provide it with a 165 million pound ($205 million) lifeline.

Monarch said that it expected core earnings (EBITDA) to come in at 48 million pounds for the 12-months ended Oct. 31 2016, down by over a third from last year after security concerns affected travel demand for destinations like Tunisia, Egypt and Turkey.

For summer next year, when Monarch makes most of its profit, the company said that flight-only bookings were up 10 percent, with holiday bookings up 40 percent year-on-year. ($1 = 0.8046 pounds) (Reporting by Sarah Young, editing by James Davey)

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