From my understanding, the previous owners ran the company into the ground. Ask anyone who was there and saw it from the inside not some half baked aviation analyst. For the last 2 years it has just ticked along and has done pretty well with the low oil price etc but to survive in the long haul, will need proper investment possibly from a new shareholder. It needs to build up cash reserves which will only come from an investor committed to the airline in the long term.
The product Monarch offer is better than most of its competitors so there is definitely place for it moving forward.