Unlike many other countries, the UK does not offer a viable insolvency track for airlines to keep operating during administration and so we were forced to cease operations.
A telling line from Swaffield's very sad communication.
Compare and contrast with the orderly close down of Air Berlin, where the rules are clearly very different.
However ARD are reporting that 100,000 passengers on Air Berlin long haul flights, booked before 15th August (the date of AB's insolvency) will possibly lose their money,and become unsecured creditors of the airline after the sales of the various bits has gone through.
I feel sure that in the wake of the demise of Monarch, HMG will take a knee-jerk response, and insist that all airlines carrying passenger who buy tickets in UK are bonded in a similar way to that which IT PAX are through the ATOL. Whether that is a) workable, and b) desirable I don't know.