Speke2me, this is not about cost cutting. All the UK charter airlines fleets are based on the winter programme which is obviously smaller than the summer programme. If the airline fleet was based on the summer programme you would have pilots and aircraft sitting around in winter burning up your profits and very rapidly go bust. Previously it was possible to use UK base airlines to pick up the extra flying lines for the summer, but in the past few years that spare capacity has gone away (XL, Astreus, Globespan etc) so you have to go to Europe. It's not ideal, but at the end of the day you have to use what's available. In this case it looks as though Monarch was using Aurela, who in fairness, up until now, seem to have a pretty good safety record.
Lets not make a drama out of a crisis, based on one incident.