Private equity firm Greybull Capital agrees with transport secretary it should help if left with profit after administration processThe owner of the collapsed Monarch airline has said it has a “moral obligation” to help meet the costs of flying holidaymakers back to Britain after taxpayers footed the £60m bill. In a letter to the chairman of the Commons transport select committee, the private equity firm Greybull Capital indicated that profits recovered from the failed firm could be shared with the government. It said in a statement that this would mean “helping to defray the costs incurred by the Department for Transport in repatriating Monarch customers”. Greybull’s handling of the company’s finances has come under intense scrutiny in the month since the airline went into administration. Grayling told the transport select committee this month that he hoped “if any of the creditors end up with money in pocket that they might indeed consider” helping with the repatriation costs.

Source: The Guardian October 29, 2017 15:35 UTC