Monarch 4

[Olympia 463]

I have watched the course of this thread from day one with ever increasing dismay.
In any business cash flow is 'king', as any business man will tell you.
I once worked for a company (not in the airline business) which went bust with a full order book, and had a team of the leading experts in our field. The bank pulled the plug by refusing to extend our overdraft even though we had invoices outstanding from customers which equalled our output for six months. If you cannot pay your wages on a Friday it is ILLEGAL to continue trading. This is what hit Monarch. They had no cash in the till and they had to file for administration - that is the law. 630 skilled engineers, many with good honours degrees, and technicians with centuries of experience between them, all went out on the street at one go. At the time (it was in the wake of the Rolls-Royce bankruptcy) jobs were hard to find. I am delighted that the Monarch folk, not just the pilots, are at least in some demand. Good luck to them.