Monarch

TeeMyob said:
What the hell is going on with this Airline?

I thought the company had sealed a rescue bid once already this year?

TM
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The company was saved last year with a £165 million cash injection by Greybull Capital, one of their problems is that the company is neither a low cost or premium carrier, it's squeezed in between, terrorism in it's main markets such as Egypt & Tunisia has reduced profits, so has the cost of fuel & aircraft leasing.
 
And in the European airline industry winter is always the financially difficult time of year. Presumably, Monarch has struggled to build sufficient cash reserves from trading during the summer to satisfy the CAA. Or so we are currently being led to believe by the media.

But as the saying goes, it's not over until the fat lady sings.

There will apparently be an announcement from the CAA sometime after 4pm today...
 
  • 8 Qatar Airways aircraft are currently being positioned to the UK - assumption being to be used to fly Monarch pax home in the event of a collapse.
  • The CAA gave Monarch a 24h extension to their ATOL certificate - which expires midnight [15 mins]
  • Monarch flight pricing has been unusual this weekend - huge rises in fares. Assumption being they are trying to dissaude people from buying tickets.
  • Venture capitalist owners don't want to invest, or cough up for the ATOL levy - they just want to sell off the profitable maintainence arm, and probably the profitable longhaul segment. If they can manage that without crashing [apologies for pun] the whole operation.

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Now there will be some pilots available for Ryanair.
Assuming holiday rotas is Ryanair's real reason..................????????????????
 
Will Ryanair be next!!!!

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Larby said:
Now there will be some pilots available for Ryanair.
Assuming holiday rotas is Ryanair's real reason..................????????????????
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There's a small problem - all Ryanair's fleet are Boeing 738's bar one 737-700 & Monarch's fleet were Airbuses so Ryanair pilots can't fly them unless they have the correct aircraft type rating.
 
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I read the title and thought it was news about the royals :LOL:
 
SH1T SH1T SH1T!
lost September tickets because of a family weeding and the cost to change was more than rebooking.
Now lost the October ones as well.
Still could have been worse did not book return.
 
berni109 said:
SH1T SH1T SH1T!
lost September tickets because of a family weeding and the cost to change was more than rebooking.
Now lost the October ones as well.
Still could have been worse did not book return.
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Hopefully you booked on Credit Card & can get Section 75 protection...
If paid on a Debit Card, then you might be able to get a "Charge Back" - you don't have the same 'rights' as with a credit card but banks often will consider refunds.
That is hassle enough, & I hope you get it sorted.
If not it is a bit of a PITA loosing money - but not as bad as for the cabin crew & other staff who will have lost their jobs :(.
 
The Wino said:
Will Ryanair be next!!!!
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In a word: NO.

Yes, Ryanair have some operational issues - but they are a hugely profitable airline. And also just a huge airline.

Whether Michael O'Leary will survive as the boss of Ryanair is another question?

We will have to wait and see. I suspect he might just hang on to his job, but IMV he said some pretty stupid things in public about his pilots last week at the company's AGM press conference.

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mikebeaches said:
...Ryanair have some operational issues - but they are a hugely profitable airline. And also just a huge airline...
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Will they remain profitable if customers lose confidence - or have to drop their fares even lower [if that's possible]?
There is some debate about the "Ryanair" low cost model being sustainable - as passengers get more savvy about avoiding paying for the "extras" that make the airline it's profit.
Other elements such as the cheap landing deals with secondary airports maybe harder to replicate when due for renewal.
What will Brexit do to Ryanair's costs?
And their employment strategy of divide & conquer with the pilots [no unions] is failing as they begin to organise themselves.

Bigger airlines than Ryanair have failed in the past.
 
Langtoftlad said:
Will they remain profitable if customers lose confidence - or have to drop their fares even lower [if that's possible]?
There is some debate about the "Ryanair" low cost model being sustainable - as passengers get more savvy about avoiding paying for the "extras" that make the airline it's profit.
Other elements such as the cheap landing deals with secondary airports maybe harder to replicate when due for renewal.
What will Brexit do to Ryanair's costs?
And their employment strategy of divide & conquer with the pilots [no unions] is failing as they begin to organise themselves.

Bigger airlines than Ryanair have failed in the past.
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Agreed, your observations are all completely valid.

And without doubt their business will take a huge hit because of what has happened; and the way they have behaved and dealt with the fallout. Which in my view is a great shame. But, as I said, the company is hugely profitable and although margins will be dented as a consequence of the mess-up, I certainly have confidence Ryanair will weather the storm and continue to operate successfully in the medium term, even if its wings have been clipped for the time being.
 
Seems particularly odd, seeing as Norwegian Air were looking to buy them not long ago.
 
Dazzles said:
Seems particularly odd, seeing as Norwegian Air were looking to buy them not long ago.
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If we're back on topic, talking about Monarch, the truth is Norwegian can probably now buy whatever bits of the company they might be interested in at a knock down price.
 
mikebeaches said:
If we're back on topic, talking about Monarch, the truth is Norwegian can probably now buy whatever bits of the company they might be interested in at a knock down price.
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Market share was the target. They’ll now be fighting everyone for that.
 
Lets hope the 30m odd aircraft will bring back all those people currently stranded, unlike when Excell airways went bust and lots of people were left to fend for themselves.
 
Dazzles said:
Market share was the target. They’ll now be fighting everyone for that.
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Norwegian are just building they're long haul operation, and I suspect that might be the part of Monarch that interests them.
 
Mystified by the decision to grant a 24 hour extension to the ATOL licence. Surely no sane person would have booked a holiday or a ticket in that time?

Michael O'Ryanair is quoted as having said a while ago that "it is an open secret in the industry that Monarch and Wizz will not see out the winter" so that's one down, one to go

MH 55 FUN said:
The company was saved last year with a £165 million cash injection by Greybull Capital,
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Perhaps not the smartest move ever but I'm sure that the execs concerned will have donned their fireproof underwear first.
 
Yes, is it not all a bit BENT?

We are in Spain - Alicante awaiting news of our flight tomorrow. Our Daughters are in Palma, awaiting theirs for tomorrow too.

I have 12 Flights booked and more than 40 Seats on Monarch bookings with Staff Discount.

I was up early this morning and Salvaged our Grandchildren's holiday (also booked with Monarch). Now switched to EasyJet at £969, that within a couple of hours went to £1600. We were driving down and flying back, but now switched ours to Santander - Portsmouth Ferry back home.

Other flights: One of our dates has gone up silly and only Ryan Air as a Christmas option. Looks like BF and hope for no weather cancellations.

Last year, Vueling and Norwegian started new routes from Manchester - Alicante Direct throughout summer and I had by now, booked some flights with the aforementioned. The competition was fierce for Monarch and the others.

But Guess what?

No Norwegian or Vueling Schedules in this year!

IAG interested in the Routes?
Norwegian ? Maybe more long Haul.
 
For sale...

1 x Silver vantage card... No longer needed.. :cry::cry:
Took me ages to finally get one....:(
 
We flew to Dalaman Turkey with Monarch last year and EasyJet this, because BA pulled the route as they couldn't sell enough seats. Recently I flew Whizz to Poland for work, I can't say I enjoyed the experience of low budget airline travelling LGW or Luton.

T5 BA is what I like and happy to pay for, I'd rather not bother but my work demands it.

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