Greybull Capital, the former owner of Monarch Airlines, has promised to pass on any profits made by the sale of the carrier’s assets to government.
In a letter to the Transport Committee published by BBC News, the investment firm said that it would help "defray the costs" of the airline’s failure to taxpayers once the administration process was over.
The government spent an estimated £60m repatriating Monarch passengers following the carrier’s collapse earlier this month.
It is still unclear if any profit will be made from Monarch’s assets, with administrators KPMG currently seeking legal clarification as to whether they have the right to sell off the airline’s slots.
London-based Greybull, which is run by brothers Marc and Nathaniel Meyohas and Richard Perlhagen, are Monarch’s main creditors and would have first say on any revenue made from asset sales.
In a statement published by the BBC, Greybull said it agreed “wholeheartedly” with transport secretary Chris Grayling’s recent claims that those who will make money from the administration of Monarch were under a “moral obligation” to help with repatriation costs.
“This would include helping to defray the costs incurred by the Department for Transport in repatriating Monarch customers,” the firm said.
“This was first discussed in principle with the secretary of state and his department several weeks ago. We also agree with the secretary of state that it is premature to prejudge the outcome of the administration.”
In its letter to MPs, Greybull repeated its regret over the airline’s collapse.
The company said: "We remain deeply sorry and saddened that circumstances beyond its control led to the failure of Monarch despite the best efforts of so many to turn around the company and the significant capital provided by Greybull to rescue Monarch from bankruptcy since 2014.”
Find contacts for 260+ travel suppliers. Type name, company or destination.