Monarch Airlines (1968) (London Luton) parent firm, Monarch Group, is reportedly in talks with owner billionaire Swiss businessman, Sergio Mantegazza, over a possible GBP60million (USD102.2million) cash injection linked to the carrier's latest fleet renewal plan.

At the recently ended Farnborough International Airshow 2014, Monarch Airlines announced plans to retool its current Airbus (AIB, Toulouse Blagnac) narrowbody fleet with a USD3.1billion deal with Boeing (BOE, Washington National) to acquire thirty B737 MAX 8s.

Quoting sources close to the Group's operations, the Sunday Telegraph said the need for a cash injection became apparent during debt financing talks concerning the Boeing order.

The paper further adds that this would be the third such time the Group has gone cap-in-hand to Mantegazza whose last two injections in 2009 and 2011 totalled GBP120million (USD204.44million).

In addition to the recovering Monarch Airlines, Monarch Group also owns tour operator Cosmos, seat-only supplier Avro and bed bank Somewhere2stay.