Historically the chartered business of Monarch was making money. A large chunk from Olympic. The scheduled business and tour operations were always bleeding. Someone has given Fabio Montegazza wrong information.
There is a lot of gossip in the airports about the sales approach taken by Monarch in the market. Not only with Olympic. Whatever the case is, Olympic are now selling seats from TUI, Thomas Cook, Jet2 and others. Obviously they are paying the market rates to get the seats. Avro and Monarch have dumped seats in the market and the prices are squeezed. There are a lot of aircraft in the market. This is good for the public. Not sure if it is good for employees.
Does anyone know how many pilots are being recruited by Monarch?