I just wish Monarch would go back to the days of Crown Service - a highly respected and popular, quality product. I wish the airline would segment itself in a niche, rather than partly be a low cost carrier and a leisure/charter airline.
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Continue to cater for long haul charter routes (maybe even convert some popular routes (SFB?) into scheduled routes, rather than focusing just on the fiercely competitive short haul routes, as is Monarch's long term strategy. Heck, how many short haul routes aren't already catered for by Ryanair or easyJet already? And quite a lot of time, they'll undercut.
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Invest in a large scale marketing programme to get the name out there - make use of the companies' history and legacy. Go back to "Classic Monarch". The recent 787 dreamliner advert from rivals Thomson was superb in my opinion. Compare that to Monarch's cheap advert targetting Northern passengers.
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Be different. Offer an "all in one" price. How many headlines do you see as locos add a dozen extra admin fees or charges? Offer a "free" in flight meal and a complimentary beverage. Offer in flight entertainment on 2-4hr routes. But increase the price and make a profit - money that passengers can just opt out from. Obviously, the economic situation means price sensitive customers, but surely there's still a huge market out there for this sort of thing. Be
"the low cost airline that cares." For instance, where easyJet would offer £50 for a starter rate for a 1-way ticket to Alicante for instance, Monarch would offer the same flight for £75, but eliminating baggage charges and admin fees. Market this to their advantage and you have more money and happy passengers.
Maybe I'm deluded or just living in hope?
People may also say why bother? Monarch are filling their aircraft at the moment.