Some 20 years ago I was detached for a summer, with an A310, to Transavia, then pretty much owned by KLM and a charter holiday airline, it seems they have moved with the times and become a low cost carrier.
Monarch are from an era of such operators as British Air Ferries, British Caledonian, Laker Airways, Dan Air, Air Europe, Britannia, British Midland, British Island Airways and all the others that have popped up during the interim, British World Airlines, Sabre, Excel, Astraeus, Excalibur, TEA UK, Ambassador, Orion, Scottish Express, FlyGlobeSpan, Go, Buzz, Air UK etc. etc. etc.
Alas all good things come to an end and Monarch have excelled themselves, no pun intended, to last this long, they were primarily a holiday charter airline that tried to move with the times but alas they had two big bruvvers to contend with and they lost the fight!