UK leisure carrier Monarch Airlines reported a loss of £69.9 million ($107.3 million) for the six months ended April 30, improved from a loss of £110.6 million for the same period last year. The airline said its turnaround was “firmly on track,” with winter losses for the November to April period reduced by a larger than forecast £40 million. Monarch has now completed the final phase of a restructuring program begun last year, aimed at generating cost savings ...

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