It has been said that Monarch are 'in administration'. Is that true? I taught this was there same as US Chapter 11 and as such allows the company to continue to operate as it restructures itself. What is the truth? Further, Monarch serviced may 000's of pax to a huge variety of destinations. Their disappearance will create a large hole in supply for their winter & next summer's destinations. Who is going to step up and fix that void? It will not just be re-emplying the pilots, but finding airframes as well. What is the plan from their competitors? It would be ironic if someone steps in and resurrects Monarch Mk.2, refinances the a/c and finds no pilots or cabin crew.
Any solid knowledge out there?