Monarch -2
Join Date: Oct 2005
Location: Far east
Posts: 87
Likes: 0
Received 0 Likes
on
0 Posts
SCANDIC ' cos i heard a rumour that Monarch were after buying jet2'
Really ? where did you hear this rubbish ? or did you just make it up to keep this thread going with yet more silly statements !
Really ? where did you hear this rubbish ? or did you just make it up to keep this thread going with yet more silly statements !
Join Date: Jan 2010
Location: EU
Age: 54
Posts: 256
Likes: 0
Received 0 Likes
on
0 Posts
SASKATOON9999:
Monarch Airlines is a wholly-owned subsidiary of Monarch Holdings, which in turn is 100%-owned by the Globus Travel Group. The Swiss Albek and Mantegazza families are the majority owners of the holding group, it would appear.
Doubtless you may have every reason to make the positive financial statements about Monarch in your post and assert that one company in the group can afford to make a loss "whilst a greater profit is made elsewhere in the corporation".
The recent announcment of a loss at Monarch would appear to have involved the entire group of companies in the UK without exception.
It would be a pleasure to give you the benefit of the doubt concerning the "greater profit made elsewhere in the corporation" if you would kindly let us have here the web site where the yearly financial accounts are published for the group for 2009-2010.
In the meantime you can see the Dart Group accounts which include the Jet2 results and the distribution company accounts in the net. These are showing an increased profit for the distribution business and a fall in profits for JET2 but a profit nonetheless. The accounts also show that the shares are good value for money. Meaning that the assets of the Dart Group as a whole are worth more than the value of the shares. Perhaps this is why there are rumours that there are buyers for JET2 out there.
You are probably quite right concerning the heavy maintenance costs of the older JET2 airframes but the secret is that they are bought outright and can be flown only when they are profitable to be moved. Others have to keep their airframes moving because they don't own them or they are leased and hope to get enough sales to break even or make a profit with on board sales. Others have to get subsidies from overseas tourist authorities to show a profit........ Monarch are not among the foregoing but without seeing published accounts, it is impossible to see where their strengths and weaknesses lie. Certainly from every point of view the Monarch group of companies is very well integrated and should make very healthy overall profits but times have been very hard and maybe JET2 have had the edge that Monarch have not had.
Your response and direction to get a view the Globus/Monarch group accounts would be much appreciated.
Monarch Airlines is a wholly-owned subsidiary of Monarch Holdings, which in turn is 100%-owned by the Globus Travel Group. The Swiss Albek and Mantegazza families are the majority owners of the holding group, it would appear.
Doubtless you may have every reason to make the positive financial statements about Monarch in your post and assert that one company in the group can afford to make a loss "whilst a greater profit is made elsewhere in the corporation".
The recent announcment of a loss at Monarch would appear to have involved the entire group of companies in the UK without exception.
It would be a pleasure to give you the benefit of the doubt concerning the "greater profit made elsewhere in the corporation" if you would kindly let us have here the web site where the yearly financial accounts are published for the group for 2009-2010.
In the meantime you can see the Dart Group accounts which include the Jet2 results and the distribution company accounts in the net. These are showing an increased profit for the distribution business and a fall in profits for JET2 but a profit nonetheless. The accounts also show that the shares are good value for money. Meaning that the assets of the Dart Group as a whole are worth more than the value of the shares. Perhaps this is why there are rumours that there are buyers for JET2 out there.
You are probably quite right concerning the heavy maintenance costs of the older JET2 airframes but the secret is that they are bought outright and can be flown only when they are profitable to be moved. Others have to keep their airframes moving because they don't own them or they are leased and hope to get enough sales to break even or make a profit with on board sales. Others have to get subsidies from overseas tourist authorities to show a profit........ Monarch are not among the foregoing but without seeing published accounts, it is impossible to see where their strengths and weaknesses lie. Certainly from every point of view the Monarch group of companies is very well integrated and should make very healthy overall profits but times have been very hard and maybe JET2 have had the edge that Monarch have not had.
Your response and direction to get a view the Globus/Monarch group accounts would be much appreciated.
Join Date: Sep 2006
Location: Crawley
Posts: 254
Likes: 0
Received 0 Likes
on
0 Posts
@DjerbaDevil
In that article you must have read it would have also mentioned that this was the first loss in its 42 year history. I dread to think where Jet2 will be in 42 yrs ( if around at all). The Dart group are profitable now but they dont have the resources of backing that Monarch have.
In that article you must have read it would have also mentioned that this was the first loss in its 42 year history. I dread to think where Jet2 will be in 42 yrs ( if around at all). The Dart group are profitable now but they dont have the resources of backing that Monarch have.
Join Date: Jan 2008
Location: desert climate
Posts: 92
Likes: 0
Received 0 Likes
on
0 Posts
SASKATOON9999.....indeed. And patronising comments like "boy" really show your maturity. As you well know the "family" have given notice to Monarch that there is not a bottomless pit of money to be lost and that its financial viability must be shown in order to survive. I really do hope that Monarch pull through as they are one of this countries oldest and most respected airlines. Jet2 is doing fine thanks, the aircraft are older but costs are low and under control, the business is expanding with particular success at Jet2 holidays. In fact Monarch established itself in a similar way back in the 60s and 70s with old Britannia aircraft and old Boeing 720s, once their management re focus on its core business and cuts costs and maintains control of those costs I am sure they will survive and prosper.
Join Date: Feb 2008
Location: halifax
Posts: 175
Likes: 0
Received 0 Likes
on
0 Posts
Airbus321-200
Funnily enough, if you look at the history of Jet2 & Dart, you will see that:
1971 (39 years ago) Carpenters Air Services started, flying flowers from Guernsey to the UK mainland (albeit with a chartered aircraft)
1975 (35 Years ago) Express Air Freight (CI) was formed, again using charteres aircraft.
1978 (32 years ago) Express Air Freight aquired their own Handley Page Dart Herald aircraft to operate their services.
So really, the business has been going for 39 years, so only 3 years off Monarch, and like mentioned before, they own all their aircraft, not lease them. So if anyone would want to buy Jet2.com, they would indeed have to buy the aircraft themselves, not just the leases.
I dread to think where Jet2 will be in 42 yrs ( if around at all).
1971 (39 years ago) Carpenters Air Services started, flying flowers from Guernsey to the UK mainland (albeit with a chartered aircraft)
1975 (35 Years ago) Express Air Freight (CI) was formed, again using charteres aircraft.
1978 (32 years ago) Express Air Freight aquired their own Handley Page Dart Herald aircraft to operate their services.
So really, the business has been going for 39 years, so only 3 years off Monarch, and like mentioned before, they own all their aircraft, not lease them. So if anyone would want to buy Jet2.com, they would indeed have to buy the aircraft themselves, not just the leases.
Join Date: Oct 2009
Location: stockport uk
Posts: 329
Likes: 0
Received 0 Likes
on
0 Posts
this monarch jet2 buy out rumour was banded around on the jet2 forum back in febuary.
so scandic have you anything new to add to it or are you just trying to resurrect the same old rumour?
so scandic have you anything new to add to it or are you just trying to resurrect the same old rumour?
Join Date: Oct 2004
Location: oop north
Age: 54
Posts: 419
Likes: 0
Received 0 Likes
on
0 Posts
Actually scandics not the only person to have heard the rumour its fairly widespread at LGW at present, however why would monarch i wonder want to buy a outfit such as jet 2, those ancient aircraft must now be becoming a real liability in terms of maintenence costs and customer perception , not a good move would have thought.
Join Date: Aug 2007
Location: manchester
Posts: 554
Likes: 0
Received 0 Likes
on
0 Posts
You see i'm not just trying to get an old rumour going, but the people on this website will jump in with both feet before thinking. It is puite a strong rumour at the moment.
Join Date: Oct 2009
Location: stockport uk
Posts: 329
Likes: 0
Received 0 Likes
on
0 Posts
scandic. my apologies for doubting you and jumping with both feet.
i still dont think this will happen though,and agree with smudge that it would be a bad move for mon.
having said that jet2/dart group knocked out a fair profit again last year,regardless of the age of the fleet etc their game plan seems to working thus far.
i still dont think this will happen though,and agree with smudge that it would be a bad move for mon.
having said that jet2/dart group knocked out a fair profit again last year,regardless of the age of the fleet etc their game plan seems to working thus far.
.
Join Date: Jan 2010
Location: EU
Age: 54
Posts: 256
Likes: 0
Received 0 Likes
on
0 Posts
According to data on the NET, 10 of Monarch's airframes out of 30 are over 20 year's old or approaching 20 year's of age. No different to JET2.
This fact would not be important, just as in the case of JET2, the age of the fleet is compensated by the high level of maintenance and new interiors and seats. Passengers don't sit on the wings and the interiors are spacious, comfortable and smell new, and the crew friendly and helpful.
In the case of Monarch on the other hand suffice to draw attention to the reviews from customers and passengers at: Monarch Airlines - SeatPlans.com
The reviews indicate a total lack of customer relations that should lead to alerts to quality control and then management awareness of these problems related to their product and getting decisions to invest substantial funds to upgrade their aircraft. If they continue to ignore their failures to their customers, they will be handing their business to EZY, RYR and others, which would be a very sad ending to a magnificent group of companies.
If the rumours about MON buying out JET2 are correct, then it must be "The Family" trying to find someone to run their show efficiently and at a profit.
This fact would not be important, just as in the case of JET2, the age of the fleet is compensated by the high level of maintenance and new interiors and seats. Passengers don't sit on the wings and the interiors are spacious, comfortable and smell new, and the crew friendly and helpful.
In the case of Monarch on the other hand suffice to draw attention to the reviews from customers and passengers at: Monarch Airlines - SeatPlans.com
The reviews indicate a total lack of customer relations that should lead to alerts to quality control and then management awareness of these problems related to their product and getting decisions to invest substantial funds to upgrade their aircraft. If they continue to ignore their failures to their customers, they will be handing their business to EZY, RYR and others, which would be a very sad ending to a magnificent group of companies.
If the rumours about MON buying out JET2 are correct, then it must be "The Family" trying to find someone to run their show efficiently and at a profit.
Join Date: May 2005
Location: Milton Keynes
Posts: 1,070
Likes: 0
Received 0 Likes
on
0 Posts
I think that the hope may be to build critical mass; Monarch in particular has become quite marginalised by the competition at Gatwick (EZY) and will feel the heat at machester too as the airline expands there. A Jet2 /MON merger would lead to an airline of some size especially in the North.
Would both brands be kept I wonder; there would be argument that Jet2 might be the stronger brand.
Would both brands be kept I wonder; there would be argument that Jet2 might be the stronger brand.
Join Date: Aug 2002
Location: London (Babylon-on-Thames)
Age: 42
Posts: 6,168
Likes: 0
Received 0 Likes
on
0 Posts
there would be argument that Jet2 might be the stronger brand.
Join Date: Sep 2001
Location: Home
Posts: 1,948
Likes: 0
Received 0 Likes
on
0 Posts
According to data on the NET, 10 of Monarch's airframes out of 30 are over 20 year's old or approaching 20 year's of age. No different to JET2
I am not in any way implying they are not safe, just simply responding to a statement.
Last edited by TSR2; 9th Jul 2010 at 10:14. Reason: Numbers corrected
Join Date: Jan 2010
Location: EU
Age: 54
Posts: 256
Likes: 0
Received 0 Likes
on
0 Posts
OK quite agree but the point being made was that Monarch are also flying older aircraft and at least one third of the Monarch fleet are as old as the JET2 airframes. The big difference between the two airlines are the standards of comfort and service offered to the passengers.
On the safety issue methinks I prefer the oldies. My faith in human pilots who have the overall flying control is unshaken.
On the safety issue methinks I prefer the oldies. My faith in human pilots who have the overall flying control is unshaken.
Join Date: Jul 2004
Location: Uk
Posts: 73
Likes: 0
Received 0 Likes
on
0 Posts
Anyone know what winter work is confirmed? Have heard allsorts of stuff from No Male or Calgary on A330. One A330 going to Garuda on Hajj. One 757 in Toronto flying to and From Caribbean? No Air Med!
Anyone got any news?
Anyone got any news?
Join Date: Oct 2004
Location: oop north
Age: 54
Posts: 419
Likes: 0
Received 0 Likes
on
0 Posts
I hear there has been big changes announced with the varios depts engineering etc merging with the airline and the old boss of engineering is now the main man, is that true or merely more unfounded gossip