Monarch to go bust?

[thedonkeycentrehalf]

Speculation on PPRUNE forum (Professional Pilots Rumour Network) seems to confirm that their is a strong suspicion that Monarch are in trouble. Several unusual aircraft movements noted and also that stock market need to be informed at 7:30am on Monday if they are going bust. Coincidentally, reported that all Monarch aircraft will be on the ground in the UK at that time.

Hope its not true but this is the time of year when charter reliant airlines tend to go belly up.

 

[Mr Smggles]

I would be surprised to be honest, fuel at its lowest cost for a long time would breathe life into a struggling business. Having said that, I flew with them in June and was not impressed at all.

 

[thedonkeycentrehalf]

I would be surprised to be honest, fuel at its lowest cost for a long time would breathe life into a struggling business. Having said that, I flew with them in June and was not impressed at all.

It appears that the holding company who own Monarch have been trying to sell them for a while and have now given up.

 

[atomised]

Interesting that monarch have switched to telling concerned people their flights are atol protected rather than that there is no truth in it

 

[Kinky Gerbil]

I would be surprised to be honest, fuel at its lowest cost for a long time would breathe life into a struggling business. Having said that, I flew with them in June and was not impressed at all.

Doesn't Help everyone whose delayed is now trying to sue airlines

 

[Mr Smggles]

It appears that the holding company who own Monarch have been trying to sell them for a while and have now given up.

I didn't know they were trying to sell, that's interesting. I suppose the timing does make sense, reap the rewards of summer and close shop before the loss of winter.

 

[Herr Tubthumper]

Speculation on PPRUNE forum (Professional Pilots Rumour Network) seems to confirm that their is a strong suspicion that Monarch are in trouble. Several unusual aircraft movements noted and also that stock market need to be informed at 7:30am on Monday if they are going bust. Coincidentally, reported that all Monarch aircraft will be on the ground in the UK at that time.

Hope its not true but this is the time of year when charter reliant airlines tend to go belly up.

Great acronym.

 

[Mr Smggles]

Doesn't Help everyone whose delayed is now trying to sue airlines

Is that a new rule or just one that's just advertised more now?

 

[Bozza]

Being denied, but I expect they always would, with no explanation as to the United flights yet.

http://www.manchestereveningnews.co...rch-airlines-strongly-denies-rumours-11936873

 

[Raleigh Chopper]

I think I remember Monarch nearly going belly up a few years ago maybe badly run.
Lots of airlines now. I have flown Monarch, decent enough but flying short haul I don't care as long as it is on time and gets me there at the cheapest price safely.
I have no loyalty to any short haul airline.

 

[Springal]

Speculation on PPRUNE forum (Professional Pilots Rumour Network) seems to confirm that their is a strong suspicion that Monarch are in trouble. Several unusual aircraft movements noted and also that stock market need to be informed at 7:30am on Monday if they are going bust. Coincidentally, reported that all Monarch aircraft will be on the ground in the UK at that time.

Hope its not true but this is the time of year when charter reliant airlines tend to go belly up.

Monarch aren't publicly traded company though.

Did find this from earlier in the summer

http://www.ibtimes.co.uk/greybull-c...h-airlines-seeks-35m-short-term-loans-1567596

 

[Ninja Elephant]

A good friend of mine worked for Monarch, I've dropped him a message about it. Ironically, he now works for Easyjet in fatigue risk management... which is very heavily involved in their strike talk at the moment. Coincidance, I believe.

 

[Beach Hut]

How much did you get back if you don't mind me asking?

Reading a lot of horror stories of people getting next to nothing back.

The flight had been paid for so still using it as checked it is ours, the hotel and transfer were refunded but only because I did what I always do with any large purchase where possible paid by credit card which gives you the insurance although naturally your card company ensures you pay more.

After much badgering of Tescos to do something eventually they did so just rebooked the hotel and transfer direct, Low Cost Holiday have 45 days to dispute the payback but they won't roughly £700 refunded back to credit card. Funnily enough Tescos mailed me Friday and asked if I would like to resolve my dispute now, very shambolic at times but all sorted in the end.

 

[Cowfold Seagull]

It appears that the holding company who own Monarch have been trying to sell them for a while and have now given up.

Yes, Avro, the tour operator who owns Monarch were hoping to sell the airline to Easy Jet at the beginning of the year, but the deal didn't come off.

 

[thedonkeycentrehalf]

Monarch aren't publicly traded company though.

Did find this from earlier in the summer

http://www.ibtimes.co.uk/greybull-c...h-airlines-seeks-35m-short-term-loans-1567596

Yep - was under the impression Greybull were quoted on the stock exchange so that won't be relevant.

 

[Cheshire Cat]

They are denying everything on Twitter - saying rumours "not true"

https://twitter.com/Monarch/with_replies

 

[D Block blue]

They are denying everything on Twitter - saying rumours "not true"

https://twitter.com/Monarch/with_replies

If this is the case then there is something seriously wrong with social media. Although Monarch could of downed the rumours hours ago, so begs the question about what their press office have been doing all afternoon


Sent from my iPhone using Tapatalk

 

[Harry H]

Sounds like scaremongering.

 

[Springal]

Sounds like scaremongering.

How does that explain jumbo jets from the US being sent into European resorts, with the same scheduled departure times and destinations as Monarch flights?

 

[Raleigh Chopper]

Bring back Dan-Air the worlds greatest ever airline!