Originally Posted by
CEJM
Could you please provide some proof of this? Monarch was predominantly a scheduled carrier and only a small percentage of our trade was package holiday bookings.
Schedule vs charter doesn’t necessarily make the determination. It all depends on where the money is coming from and whether or not there is enough coming in plus reserves to pay the bills. I was making the Monarch inference from the statement the company released at the time. I am very happy to be corrected on this. It could also have been the corporate structure that forced the airline into admin. Insolvency law is a complicated space and in some cases mutual credit webs will drag multiple companies down. What isn’t disputed is that if an airline in the UK calls in the administrators they must cease trading.
Note: if the restructure goes through TCX will truly be separate from the rest of the group. In this case a failure of one wouldn’t guarantee a failure of the other. However, at least in the near term it would probably be likely.