I do have a GCE at "A" level with a grade A pass (when GCE's were really hard at "O", and the "A" level course was two years long) in Economics. Even I struggle with complex economic situations that lead to this type of demise. Throw in "creative accounting" and other issues like fuel hedging, liquidity ratio etc and you have a mind-dumbing mine field to navigate.
I was selected for a Monarch job in the late 60's and my mate & I puzzled through the Monarch history at Companies House, in London, as we had job offers from everyone (no, no boast, just that we were exactly what everyone was looking for at the time ).
Easy to source Britannia, Fred at Laker, Courtline etc etc. All seemed above board and transparent but we just could not get to bottom line ; who owns Monarch ?
Pretty young assistant laughed off our puzzlement, told us that it would be better to invest long term career interest in someone else as Monarch looked a bit "dodgy". That was decades ago. My mate & I went separate ways with separate companies.
Monarch appears to have lurched along all this time with highly questionable management practices and ideas. Even with my "A" at grade A, I find bottom line practices very hard to fathom.
I too was in Air Europe on the last day. I too have read the book (very hard to get hold of) but the final chapters on the economic issues leave me scratching my head.
Pilots fly the plane and we hope Managers , er, manage. I think we, pilots, have a better career history.
Very sad loss.For pilots , my career and therefore focus. It is cheering to see stacks of jobs out there. Said before, by me too, guys & gals, forget what is painted on the side of a plane and be loyal to your Licence. As a "Commercial Pilot", be commercial. Get out there And make it work for you .
Very good luck to a very talented and professional pilot group.