Monarch Airlines

[meeesh]

Meant to be an announcement in next few days,I have a feeling they are gonna go,hope nobody has any holidays booked with them in the near future.

Hope they pull through it,always decent planes and staff when I've flown with them

 

[inbetween]

They have been having trouble for years, they don't even own the planes they operate anymore.

They said last week they were on target to make a profit of £40M+ yet they couldn't afford the £5M needed to renew their ATOL license. Clearly huge cashflow problems going on there.

 

[Why Always Ste]

Maybe they should of bought a football club to promote itself?

Queens Park Rangers or maybe Leicester who play at the King Power stadium?

 

[meeesh]

They have been having trouble for years, they don't even own the planes they operate anymore.

They said last week they were on target to make a profit of £40M+ yet they couldn't afford the £5M needed to renew their ATOL license. Clearly huge cashflow problems going on there.

Didn't know they were all on lease,thought they owned them all,never been the cheapest compared with Easy and Ryanair though I suppose

 

[tiggsywiggsywoo]

A big part of their market was based around travel to Egypt and Turkey, both these destinations have been hard hit this year.

 

[gordondaviesmoustache]

They're royally fucked.

 

[Gelsons Dad]

Been on the cards for a while. There is talk of a major investment and new aircraft orders but the CAA gave them 12 days a couple of days ago.

“The CAA has granted Monarch a 12 day extension to its existing ATOL licences. The extended licences will now expire at 23:59 on 12 October 2016.

“The CAA was able to do this by requiring the shareholder to provide additional funding and because customers' money will be protected.

“Monarch now has 12 days to satisfy the CAA that the group is able to meet the requirements for a full ATOL licence.

“Monarch will remain ATOL licensed until this extension expires.

“The CAA always advises consumers to ensure they book ATOL-protected air holidays and consumers who choose to book an ATOL-protected flight or holiday with the company during this time will continue to be protected by the ATOL scheme.

“During this period of extension, the CAA will continue to monitor the company.”

 

[Blue Maverick]

My wife works for them, they have a Chinese investor coming in, they are set too announce profits as well. They were taken over two years ago by the current group who said they would put the company back in profit and then sell, apparently they do it to a lot of companies. We were worried last week but internal emails have been sent out and Monarch have talked to all major players, travel firms etc and booking s are been taken again. If it goes tits up they will be totally fucked and I'll go,down and smash their offices up personally.

 

[DTKOAG]

My wife works for them, they have a Chinese investor coming in, they are set too announce profits as well. They were taken over two years ago by the current group who said they would put the company back in profit and then sell, apparently they do it to a lot of companies. We were worried last week but internal emails have been sent out and Monarch have talked to all major players, travel firms etc and booking s are been taken again. If it goes tits up they will be totally fucked and I'll go,down and smash their offices up personally.

Good news.

 

[meeesh]

My wife works for them, they have a Chinese investor coming in, they are set too announce profits as well. They were taken over two years ago by the current group who said they would put the company back in profit and then sell, apparently they do it to a lot of companies. We were worried last week but internal emails have been sent out and Monarch have talked to all major players, travel firms etc and booking s are been taken again. If it goes tits up they will be totally fucked and I'll go,down and smash their offices up personally.

Must be a great relief for you that mate and the Mrs of course