Low-cost carrier (LCC) easyJet is reportedly considering a bid for fellow UK-airline Monarch whose owners Greybull Capital are reviewing “both inbound and outbound opportunities” for the group.
The Sunday Times reported at the weekend that Luton-headquartered easyJet is contemplating submitting a bid in competition with China’s HNA Group, which is also believed to be interested.
Last week, it was also speculated that Monarch, also based in Luton, had been considering its own takeover options and had drawn up a list of potential airlines which included Air Berlin, TuiFly, Thomas Cook Airlines and an unnamed Spanish LCC.
Greybull Capital acquired Monarch in October 2014 from the Switzerland-based Mantegazza family with the airline on the verge of collapse.
The venture capital group helped return Monarch to profit at the end of 2015 following the drop in fuel prices and a £200m ($287m) cost reduction programme.