Sometimes Monarch have some good ideas, then go and ruin it by doing something stupid. Thier onboard product is excellent; allocated seating, extra leg room seats etc... all designed for flights of 4-5hrs in length. So what do they do... launch City routes like Barcelona, Venice, Rome etc, where people are less likely to buy that product.
For me they need to be looking at expansion in Egypt, Morocco, Turkey, Greece and the Canaries, flights of 4-5 hours, to more UK bases, rather than chase easyJet with a more expensive and less flexible product on city routes.