I see the airline conveniently blaming their collapse on Brexit. How convenient. Nothing at all to do with any other non-Brexit factors, really? I find that spin as complete denial, here is that
spin.
However, meanwhile, and separateky there are more balanced and less lazy journalism and comments:
Overcapacity in the European aviation sector has resulted in the demise of airline operators such as Monarch Airlines, who were present in both the low-cost airline market and the leisure airline market — while failing to be a market leader in either. The airline faced fierce competition from both sides and collapsed amid its flawed strategy.
both the uncertainties surrounding Brexit and a year-long higher oil price in 2018 have wiped off profits (or attempts to become profitable) at even the most financially stable airline carriers.
Source
So basically, the cost cutting that should have been delivered over the past 5 years wasn't fully delivered and it seems convenient to point and oh, look over there, it's Brexit! Not creditable at all. Another example of management failure to aggressively and relentlessly squeeze costs out of the operation. It weakened their ability to withstand fuel price pressures and ATC strikes and chaos they caused. Yes, Brexit is 'one' factor, but the destruction was rooted in much deeper issues from the sound of it.