Question to the Department for Transport:

To ask Her Majesty's Government, further to the Written Answer by Baroness Sugg on 13 November 2017 (HL2729), whether Greybull Capital made a profit from its investment in Monarch airlines.

Greybull Capital is not itself a shareholder in Monarch Airlines but they do perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. The extent of any profit or loss resulting from Petrol Jersey Limited’s investment in Monarch Airlines has not yet been determined as it will depend on the outcome of the administration process and any asset realisations and distributions that may result from that process. The administration is still ongoing, and the timeline and process for concluding it is being determined by KPMG as administrator.