It says that in October 2011 8 students were pre-selected for a "Monarch Wings" course. Never heard of that one. This MPL is supposed to start in December, ambitious considering it is already November in Sydney.
Monarch is losing cash and received a £75m cash injection from the Mantegazza family only last week - however given its gatwick and luton slot portfolio and its route network and fleet it could be very attractive for easyJet to snap up, as was GB Airways.