Monarch - 3

[Brigantee]

Well if the rumours of lots of Chinese money are true then things could be looking up without doubt

[Lou Scannon]

Having lost the odd pilot job in the UK IT business (Laker, Air Europe etc) I am now retired and have flown with Monarch several times in recent years.

I now fly with them by choice .They have an excellent product with a great set of cabin staff and I am keeping my fingers crossed for them.

Looking forward to travelling with them to Lanzagrotty next year.

[Fletch]

Re Government intervention. I too see no place for the government to intervene in the plight of Monarch. The reality of it is Monarch are of no strategic importance (agreed they do support a lot of high quality/skilled jobs) to the country. Should Monarch, or any airline operating in the leisure sector for that matter, cease trading the market has so many other players in it that the capacity would easily be absorbed. In fact an over supply of seats on most of Monarchs routes is looming. If I was a competitor I wouldn't be happy if they were to receive preferential treatment. Also where was the intervention with XL, Globespan, Baby
That said, delighted that Monarch live to fight another day. A great brand and a decent employer.
Perhaps the HNA deal will be tied in to the purchase of the 737s (in an asset management role), so they will not require a majority stake.

[Brigantee]

Im sure the government have no intention whatsoever of getting involved in this issue

[KyleRB]

Unless we are party to the negotiations, none of us here really know what's going on behind closed doors. There is little certainty in anything we say, it is merely conjecture and opinion, sometimes enlightened opinion!

[INKJET]

I think some people are trying to see things in this that don't exist, the UK Government won't get involved, they will be aware of course because potentially large scale redundancies require that they be aware, but beyond that no chance of interference in a private company.

The CAA have granted an extension because they are satisfied that the risk in two weeks is no greater than now and i would expect some form of bond will have been paid to allow this whilst work continues to find an investor.

Well I'm sure that having news about the 12 day extension on SKY news will do far more damage to future booking than all the tittle tattle on here, Facebook and Twitter.

[Brigantee]

By all accounts a investor is on board and announcement due early next week

[Rushed Approach]

I suspect this is still more complex than many on here realise. Don't forget that Greybull only own 90% of Monarch.

[KyleRB]

From what I do know I think you might be right Rushed Approach.

[Brigantee]

They need to get things sorted ASAP regarding the ATOL renewal , As it stands they have been thrown a lifeline , If they let it go to wire as they did yesterday again consumer confidence already damaged will be lost completely

[KyleRB]

Brigantee

I think they are aware of this! I can't imagine they are deliberately dragging this out.

I have 2 good friends there so I have an interest plus if they do longhaul again, I would re-submit my application!

[xollob]

Originally Posted by Uplinker

False rumours and malicious speculation. Monarch are good to go.

Watch this space.

Unfortunately for those at Monarch I think you might be mistaken, if there was "nothing to see here move along" then my personal belief is a new ATOL would have been issued, not a 12 day extension, which in reality is just a temporary lifeline. I guess the conversation went something along the lines of" we're in a good state", "we don't think you are", "we are", "prove it", "erm we cant right now, here's what we can prove", "ok that's enough to buy you 12 days, you have that time to come up with the rest".


For the jobs of all those involved I hope that all is good going forward, but to go to the 11th hour just for 12 days seems somewhat bizarre. I certainly hope it's not so the CAA can in 12 days turn around and say, we gave them a chance, so it's not our fault gov"


Good luck all involved.

[Heathrow Harry]

probably The Money playing hard to get an trying to extort the best possible price

Monarch aren't out of the woods yet but they're sounding very bullish..............

[RHINO]

Lou Scannon...all at Monarch salute you...

I think it's fair to say the Naysayers are going to end up with egg on their face.

[RHINO]

I doubt the 10% stake the PPF has is relevant in any way.

This will not go down to the wire but be sorted shortly.

Why shouldn't the UK government get involved.

Thomas Cook was 'sorted' by the UK government

[Skipness One Echo]

Thomas Cook was nationalised???? Missed that one!
Why would a Chinese business be keen to lose money against FR/EZY/DY/LS taking white people to get a tan?
How are forward bookings looking? Unless new owner has VERY deep pockets they're about to have an existence threatening winter trading situation. Seriously, rose tinted memories of better days aside, who on Earth books with a company with this visibility in the news cycle? The only way back is to beat the other guys on PRICE and that won't get you through to the summer!

[RHINO]

Who said anything about 'Nationalised'

[gtf]

Originally Posted by pax britanica

So tell the Eu to get lost re Monarch but where does that leave Easyjet and Ryan both much much bigger who are very EU dependent?

And of course the Eu can always turn round and add conditions to 'foreign ' airlines operating largely inside the Eu so a quick fix on Monarch may not be so simple

Eu doesn't need to "add" conditions. EU airline exceeding 49% have no traffic rights to EU airports.

[Brigantee]

Dont know why a chinese company would be interested skipness but it appears they certainly were three months back so maybe still are ?

http://www.travelweekly.co.uk/articl...-monarch-stake

They recently bought a 80 per cent stake in SR Technics so perhaps monarchs engineering business which is by all accounts highly regarded is part of the attraction ?

[Pin Head]

Please do not always believe what a Chinese person says in business and aviation.

Had first hand experience of their lies recently.