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1241976

registered interest
date	08/10/2020
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they last communicated with Greybull Capital and Petrol Jersey Limited about the repayment of the costs to taxpayers of repatriating UK passengers of Monarch Airlines when that airline collapsed.
tabling member printed	Lord Myners
uin	HL8941
answer	answer is ministerial correction date of answer 22/10/2020 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee on 24 October 2017 acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020. Until then, we will not be able to confirm the final total that the Department has recouped.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p> answering member printed Baroness Vere of Norbiton question first answered 22/10/2020 16:17:39 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1149754

registered interest
date	14/10/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how many matters are outstanding in calculating the cost to taxpayers of repatriating Monarch Airlines passengers to the United Kingdom; whether independent accountants have been appointed and given access to papers in order to assist in calculating that cost; and what enquiries have been made to Greybull and its associates in the last year about the collapse of that airline.
tabling member printed	Lord Myners
uin	HL47
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The calculation of the final cost to the taxpayer of repatriating Monarch Airlines passengers will depend on the outcome of the administration process, which is not due to conclude until October 2020. As such, the Department for Transport has not appointed independent accountants nor given them access to associated paper work at this time.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 28/10/2019 11:37:18 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1148317

registered interest
date	03/10/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether their current estimate for the cost of repatriating customers of Monarch Airlines to the UK assumes a contribution from (1) the owners, and (2) any associate, of Greybull Capital; and when ministers or officials last contacted Greybull Capital about its willingness to make a contribution to that cost.
tabling member printed	Lord Myners
uin	HL18037
answer	answer is ministerial correction date of answer 08/10/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However, Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020. Until then, we will not be able to confirm the final total that the Department has recouped.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 08/10/2019 11:27:26 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1146133

registered interest
date	25/09/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Transport, what the cost was of repatriating non-ATOL passengers related to the collapse of Monarch Airlines.
tabling member constituency	Plymouth, Sutton and Devonport
tabling member printed	Luke Pollard
uin	291123
answer	answer is ministerial correction date of answer 04/10/2019 answer text <p>The Civil Aviation Authority 17/18 annual report sets out that the total cost of the Monarch Airlines repatriation activities amounted to £52.5 million.</p><p> </p><p>Of this, £9.5m was paid by the Air Travel Trust Fund which covered the costs of repatriating Monarch Group ATOL protected passengers. The total cost of all other passengers was assessed as £43.0m.</p><p> </p><p>Since Monarch’s collapse, government has sought to recover the costs of the operation from several third parties including the finance and tourism sectors.</p><p> </p><p>I refer to the Written Ministerial Statement made by the Secretary of State on 9 May 2019, which reported that the final cost to the taxpayer from the Monarch repatriation had been assessed to be £40.5m.</p><p> </p><p>This previously stated estimate included an expected contribution from Thomas Cook which, following their collapse, the government no longer expects to receive.</p><p> </p><p>The latest estimate of the cost to the taxpayer of repatriating non-ATOL passengers is £40.7m. A final position on cost recoveries cannot be known until the completion of the Monarch administration.</p> answering member constituency Blackpool North and Cleveleys answering member printed Paul Maynard question first answered 04/10/2019 13:07:59 answering member 3926 label Biography information for Paul Maynard
tabling member	4682 label Biography information for Luke Pollard

1144188

registered interest
date	03/09/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what progress they have made in obtaining a financial contribution from Greybull Capital towards the cost of the return to the UK of passengers on Monarch Airlines consequent on the withdrawal of financial support by Greybull Capital; what is their assessment of whether Greybull Capital and associates are likely to make a profit on their investment in Greybull Capital; whether any such profit will be assessable to UK tax; and when Ministers last had contact with Greybull Capital.
tabling member printed	Lord Myners
uin	HL17676
answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However, Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020.</p><p> </p><p>Profits made by corporations are subject to the tax laws relevant to their jurisdiction. Petrol Jersey Limited is a company which is incorporated in Jersey. It would be for HM Revenue and Customs to confirm whether any such profit would be assessable to tax in the UK.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p> answering member printed Baroness Vere of Norbiton question first answered 09/09/2019 12:40:37 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1122892

registered interest
date	24/04/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they last talked with Greybull Capital about it contributing to the costs incurred by the Government in repatriating Monarch passengers after the airline collapsed.
tabling member printed	Lord Myners
uin	HL15283
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020.</p><p> </p><p>I refer to the Written Ministerial Statement made by the Secretary of State on 9 May 2019, which reported that the final cost to the taxpayer from the Monarch repatriation have been assessed to be £40.5m. This does not include any contribution from Greybull Capital or the principal shareholder, Petrol Jersey Limited. We do not expect any material change to the final cost to the taxpayer.</p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton grouped question UIN HL15293 question first answered 09/05/2019 14:24:37 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1122902

registered interest
date	24/04/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, further to the Written Answer by Baroness Sugg on 12 March (HL14267), whether the contribution promised by Greybull to meet part of the cost incurred by taxpayers in repatriating customers of Monarch Airlines is dependent on the completion of the administration of the Monarch group of companies; and when ministers last met Greybull in connection with Greybull's contribution to costs.
tabling member printed	Lord Myners
uin	HL15293
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020.</p><p> </p><p>I refer to the Written Ministerial Statement made by the Secretary of State on 9 May 2019, which reported that the final cost to the taxpayer from the Monarch repatriation have been assessed to be £40.5m. This does not include any contribution from Greybull Capital or the principal shareholder, Petrol Jersey Limited. We do not expect any material change to the final cost to the taxpayer.</p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton grouped question UIN HL15283 question first answered 09/05/2019 14:24:38 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1082430

registered interest
date	05/03/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, further to the Written Answer by Baroness Sugg on 28 February (HL13791), how much of the cost to the taxpayer of repatriating customers of Monarch airlines to the UK has been met by the owners or associates, including Greybull Capital, of the airline.
tabling member printed	Lord Myners
uin	HL14267
answer	answer is ministerial correction date of answer 12/03/2019 answer text <p>To date the Government has not received any payment from Greybull or Monarch’s investors. The administration of the Monarch group of companies continues and the Government is finalising contributions from the travel industry. We are grateful for the companies that have contributed to the costs of repatriating their customers, demonstrating their corporate social responsibility.</p><p> </p><p>Following on from the experience of Monarch, the Secretary of State for Transport commissioned an independent Airline Insolvency Review which is expected to report by spring 2019.</p> answering member printed Baroness Sugg question first answered 12/03/2019 14:51:51 answering member 4584 label Biography information for Baroness Sugg
tabling member	3869 label Biography information for Lord Myners

1063553

registered interest
date	18/02/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how much progress has been made in recovering from the owners of Monarch Airlines the costs incurred by UK taxpayers in repatriating that airline’s passengers.
tabling member printed	Lord Myners
uin	HL13791
answer	answer is ministerial correction date of answer 28/02/2019 answer text <p>The Government has made good progress in recovering monies from a variety of sources including credit card companies and tour operators. We are grateful for the companies that have contributed to the costs of repatriating their customers, demonstrating their corporate social responsibility and encourage others to follow their example.</p><p> </p><p>In October 2017 we estimated that the total cost of the repatriation operation would be £60m. The actual cost of the repatriation operation is currently estimated to be about £50m and we do not expect this number to change significantly. Following on from the experience of Monarch, the Secretary of State for Transport commissioned an independent Airline Insolvency Review which is expected to report by spring 2019.</p> answering member printed Baroness Sugg question first answered 28/02/2019 13:34:53 answering member 4584 label Biography information for Baroness Sugg
tabling member	3869 label Biography information for Lord Myners

1036901

registered interest
date	07/01/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the cost to public expenditure of repatriating to the UK customers of Monarch Airlines; and what contribution to this cost they are seeking to reclaim from the airline's owners, investors, and associates.
tabling member printed	Lord Myners
uin	HL12543
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>In October 2017, the Government estimated that the total cost of Monarch’s repatriation operation would be £60m. The actual cost of repatriation is estimated to be about £50m and the Government does not expect this number to change significantly.</p><p> </p><p>As the administration of Monarch has yet to conclude, the Department continues to discuss contributions from the travel industry and the investors and estate of the company towards taxpayers costs.</p> answering member printed Baroness Sugg question first answered 21/01/2019 17:50:24 answering member 4584 label Biography information for Baroness Sugg
tabling member	3869 label Biography information for Lord Myners