Love the posts that start, not a pilot!! Or I don't work in aviation but....
It's not cost cutting. Monarch have new aircraft on order, the chartered aircraft were just filling in until they arrive.
Monarch are a respected company for both their airline and engineering within the aviation industry. They would not risk any of this by using an unsafe airline.
Apart from which there is a European blacklist and any airline not reaching European safety standards is banned from operating from our airspace.
This was a minor incident, which has been blown out of all proportion by the media. There have been far worse incidents where safety or aircraft damage has been caused recently. All in Europe.
Suggest the wannabes do a little more research and approach the forum with a little more knowledge. Otherwise sit back, observe and learn!