Monarch will not go public: Rawlinson

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Monarch Airlines' executive chairman Iain Rawlinson has ruled out a public flotation of the company to raise funds for future growth.

"There are no plans to list; there are no plans to go to the public markets," said Rawlinson in an address to the UK Aviation Club in London.

Rawlinson, who has been in acting charge of the airline since September, declines to comment on the "innermost thinking of the [Mantegazza] family", but says he is confident they will continue to head the business and invest in it.

Monarch Airlines and its parent Monarch Holdings are owned by the Mantegazza family.

"What I can say is that the progress we have made has really enthused the shareholders who can sense the longevity of their investment," says Rawlinson. "We all saw a lot of pressure, as we all did in the gale of 2009 and second gale of 2011."

Rawlinson says Fabio Mantegazza, Monarch Holdings' Swiss chairman, is "coming much more to the fore, so we are into the third generation of the Mantegazza family at proprietor level", which means there is an “enormous amount to play for under the current structure as a private company".

The airline expects to finance its impending aircraft order through capital from existing shareholders, as it has done in the past.

Rawlinson also stresses that the UK-based hybrid carrier is still "absolutely" committed to its charter business and sees potential to grow its UK operations. "Playground is open for business and the noise is deafening," he says.