Monarch Airlines is considering acquisitions and is not for sale, according to chief executive Andrew Swaffield.

The leisure airline owned by investment firm Greybull Capital has been at the centre of speculation over its future.

Media reports emerged earlier this month after Greybull appointed bankers to examine options for the airline 18 months after it was rescued from collapse.

Swaffield told an industry audience the carrier had received interest from possible suitors but was not for sale, Reuters reported.

“We’ve got our eyes open on potential acquisitions that we might be able to make ourselves with Greybull’s support and we haven’t denied the fact that there has been interest in us from potential acquirers,” he said.

“But the ‘for sale’ sign is not up and as far as we’re concerned our focus is on delivering a successful and sustainable profitable business.”