Monarch
I for one hope that Monarch can find their niche and be around for a long time to come.
I do agree that trying to take on the low cost giants directly isntt perhaps the best strategy and that something closer to a full service offering but at an affordable price may be the way to go, built around a return to their old Crown Service proposition.
Whichever route they choose, it's not easy but I'd rather have a Luton that boasts some Monarch tails than one that's even more orange than it is now