Whilst one can understand the comment about 'the family' has invested enough over recent years it completely ignores the return and tax advantages it has enjoyed over many many years, of course there can be no blank cheques for future investment, but pensions provisions should have been fully funded, a hair cut of the magnitude suggested here is disgraceful and ought to be illegal
This will do nothing for customer service despite the much vaunted re training of front line staff, i suspect Monarch will be a re run of bmi with death by a 1000 cuts, the only difference is that its German owners Lufthansa had rather more integrity than this dodgy Italian/Swiss bunch, Lufthansa even topped up the money paid into the PPF post sale to ensure members got all or close to their projected benefits.
To suggest that Monarch can compete with he likes EasyJet/Ryanair/Norwegian or even Jet2 is living in cloud cuckoo land, Monarch will bleed cash this winter and the uncertainty over its future will result in tickets for next summer been sold at distress pricing, if it gets that far