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Monarch - 3

Old 26th Sep 2016, 06:15
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0614 today:
A spokesman for Monarch said: "Over the weekend, there has been negative speculation about Monarch's financial health. Our flights are operating as normal, carrying Monarch passengers as scheduled. To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days."
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Old 26th Sep 2016, 06:25
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Monarch expects to announce a significant investment from its stakeholders in the coming days


Monarch airlines denies rumours of financial crisis | Daily Mail Online
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Old 26th Sep 2016, 06:27
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If correct, that statement means there is a funding requirement and so Monarch's Twitter account that spoke of being unsure where these rumours emerged from and Confirming they are not true, could be considered stretching matters.

The other small matter is that as at now, they don't have the funds.
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Old 26th Sep 2016, 06:31
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Monarch flights 932 and 982 have departed BHX on schedule. All this talk of them going into admin is not doing much for future bookings for the airline, therefore putting it in jeopardy.

Think of the employees folks.
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Old 26th Sep 2016, 06:32
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Well said Aluminium Shuffler. I fail to understand anyone who takes pleasure in another persons misfortune. The airline industry is tenuous enough without such irresponsible behaviour. As an ex employee of Monarch and a person who still has members of my family employed with them, I wish them all the very best for the future.
Temps.
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Old 26th Sep 2016, 06:36
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Are the charters still hanging about?

Wonder if a CAA charter order is enough to persuade the bank for some extra days of solvency?

If so, for the gov it's a no lose as it gives time to save the airline - and in the event it goes wrong then the planes to get people home are already there and paid for during the adminstration phase.

My best guess.
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Old 26th Sep 2016, 06:36
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Hope we see heartfelt apologies from those scaremongering last night!!
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Old 26th Sep 2016, 06:37
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Hope we now see heartfelt apologies from those scaremongering last night!!!!
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Old 26th Sep 2016, 06:40
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Don't hold your breath!
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Old 26th Sep 2016, 06:43
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I thought this was just a rumour until that statement came out.

It would take greybull very little time - and certainly not days - to put the funding in. Of course, that assumes they think it's worthwhile investing new money.

Releasing press statements that state we do have a problem and not yet a solution is adding to the flames.
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Old 26th Sep 2016, 06:47
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747 UA2281 PMI-BHX Cancelled

N120UA ORD-TFS enroute still
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Old 26th Sep 2016, 07:00
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CAA spooked too soon?
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Old 26th Sep 2016, 07:01
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Monarch airlines says flights operating as normal - BBC News
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Old 26th Sep 2016, 07:03
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Looks to me like one big over reaction and certainly undermindes the airline if so ! Pulling 747s out of service to sit on tarmac in Europe will not come cheap either.
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Old 26th Sep 2016, 07:06
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There's reference on BBC to this money funding ATOL renewal, which was mentioned by someone .
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Old 26th Sep 2016, 07:22
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All flights operating as normal this morning at brum
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Old 26th Sep 2016, 07:28
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With all these rumours in circulation and the U.K. Media covering the story, why have they not pulled Andrew Swaffield (CEO) into play? Would it not make sense to have him on TV/Radio to deny and squash the rumours? His words might play stronger than those of the FaceBook/Twitter person at ZB or a press release.
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Old 26th Sep 2016, 07:29
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There is no doubt that the CAA have put wide bodies on standby across Europe in case MON were unable to continue trading.....obviously a deal has been done or is being done which keeps the CAA happy with regard to MON continuing. Let's hope MON now has a great opportunity to build going forward for the sake of all who work there.
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Old 26th Sep 2016, 07:30
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Fumble, he's probably been up all night talking with the banks.
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Old 26th Sep 2016, 07:31
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There is no doubt that the CAA have put wide bodies on standby across Europe in case MON were unable to continue trading.....obviously a deal has been done or is being done which keeps the CAA happy with regard to MON continuing. Let's hope MON now has a great opportunity to build going forward for the sake of all who work there.
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