Originally Posted by
canberra97
I believe the Mantegazza family were unintentionally 'steering' Monarch steadily towards the 'rocks' before Greybull acquired the airline although the last three years under their control the situation has only got worse with the upsetting news we've all woken up to today with an official announcement regarding the final demise of Monarch a true end of an era in British aviation.
There was nothing unintentional about it when they discovered the pension liability.The world changed and their model required investment that they were not prepared to make. It has all been downhill since 1999,which was the last time they made any kind of investment.
The Pension Protection Fund owne a part of the company and this is now worthless.