Monday, 2 October 2017

MONARCH Airlines goes bust and future bookings cancelled

We are sorry to inform you that, as of 2 October 2017, all future holidays and flights provided by these companies have been cancelled and are no longer operating,” said a message on Monarch’s website under the logo of Britain’s Civil Aviation Authority.

“All Monarch flights from the UK are cancelled, DO NOT go to UK airports,” said a post on Monarch’s Twitter feed.

The airline has gone bust and all its future bookings have been cancelled.
Monarch, the UK's fifth biggest airline is the largest ever to go into administration and has left 110,000 passengers stuck overseas. The collapse of  Monarch will see the biggest ever peacetime mission to repatriate Brits whose flights have been cancelled
The British holiday operator failed to reach a deal by midnight with the Civil Aviation Authority to prevent its collapse.
Some arriving for their scheduled flights this morning were given a piece of paper warning them of the situation and to return home if they were expecting to fly Monarch.
Among them were a wedding party who found out at 10 minutes notice they would not be able to fly to Gran Canaria for their big day.
Administrators KPMG say a total of 860,000 passengers will be affected by the closure.

KPMG partner and joint administrator, Blair Nimmo, said "mounting cost pressures and increasingly competitive market conditions in the European short-haul market have contributed to the Monarch Group experiencing a sustained period of trading losses".
Consequently, more than 2,000 Monarch workers now risk losing their jobs.
The airline had been struggling financially for a while and won a cash injection a year ago that allowed it to continue flying holidaymakers and fund growth plans, as the sector faced turbulence from Brexit and terrorism.
Majority shareholder Greybull Capital had pumped another £165 million into Monarch in October 2016 to allow Monarch to retain its licence to carry on selling package holidays.

Monarch entered administration at 4:30am on 2 October 2017, ceasing operations with immediate effect, around a year after rumours of its imminent demise became widespread.

Monarch Airlines, also known simply as Monarch, was a British charter and scheduled airline based at Luton, that operated scheduled flights to destinations in the Mediterranean, Canary Islands, Cyprus, Egypt, Greece, Sweden and Turkey. The airline's headquarters were at Luton, with other bases at Birmingham, Leeds/Bradford, Gatwick and Manchester. Monarch was one of the oldest UK airlines not to have changed its original name before it ceased operations. It had around 3,500 employees as of 1 October 2017.

Monarch operated the following aircraft as of August 2017:

Monarch Airlines Fleet
AircraftIn ServiceOrdersPassengersNotes
Airbus A320-2009174Planned to be replaced by Boeing 737 MAX.
Airbus A321-20025214Planned to be replaced by Boeing 737 MAX.
Boeing 737-8001186Leased from Pegasus Airlines.
Boeing 737 MAX 845TBAPlanned to be delivered from Q2 2018.

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