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Monarch - 3

Old 3rd Oct 2016, 19:43
  #3741 (permalink)  
 
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Well if they have got any sense they will announce something positive ASAP this uncertainty must be hitting bookings dreadfully
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Old 4th Oct 2016, 06:50
  #3742 (permalink)  
 
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First thing that comes to my mind when describing the previous owners is that they basically stole my and many other Monarch employee's pensions. Shrewd is one way of putting it but I think many a Monarch employee may put it in stronger terms....
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Old 4th Oct 2016, 12:13
  #3743 (permalink)  
 
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Location: Cheshire
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Quite agree Alloy.

It's a national disgrace that ANYONE can mess about with your pension.

Every persons pension should be ring fenced and untouchable, the new government should be looking at ways to ensure it can never happen again in the future. Did we learn nothing from the Mirror Group debacle.

IMHO it's tantamount to theft.

Sorry for thread drift.
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Old 4th Oct 2016, 13:35
  #3744 (permalink)  
 
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Considering the Monarch Pension fund owns ten percent of the airline, at a minimum that will be diluted with new shareholder investment.
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Old 4th Oct 2016, 13:39
  #3745 (permalink)  
 
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Well if they have got any sense they will announce something positive ASAP this uncertainty must be hitting bookings dreadfully

You can only announce something when you have it
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Old 4th Oct 2016, 14:18
  #3746 (permalink)  
 
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On current form Monarch will break the announcement on the 12th day with 20 mins to go before the deadline expires.
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Old 4th Oct 2016, 14:46
  #3747 (permalink)  
 
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Surely they wont repeat that mistake again and i guess the CAA must have been pretty confident the funding /investment is there in order to grant a extension after all that had happened

Who actually picks up the tab for the "rescue" flights if the company involved carries on trading ?
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Old 4th Oct 2016, 14:50
  #3748 (permalink)  
 
Join Date: May 2016
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Originally Posted by Brigantee View Post
Surely they wont repeat that mistake again and i guess the CAA must have been pretty confident the funding /investment is there in order to grant a extension after all that had happened

Who actually picks up the tab for the "rescue" flights if the company involved carries on trading ?
I guess ATOL? So in essance holiday-makers who are daft enough to pay above the odds for a "protected" tacky package holiday.
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Old 4th Oct 2016, 16:01
  #3749 (permalink)  
 
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tacky package holiday.
Bit of an over generalisation there. I'm sure there are plenty of people who have benefitted from such protection in the past, and many who didn't have it because they made their own holiday and ended up stuck.

Let's all hope for some positive news with regard to the intended investment sooner rather than later, I'm sure the CAA are fed up with late night last minute negotiations.
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Old 4th Oct 2016, 18:43
  #3750 (permalink)  
 
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Considering the Monarch Pension fund owns ten percent of the airline, at a minimum that will be diluted with new shareholder investment.
At least someone knows (along with the FT, but unlike the rest of the press) who owns the other 10%.
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Old 4th Oct 2016, 19:14
  #3751 (permalink)  
 
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which has had 3 bail outs in less than 3 years
Could someone tell me who made these 3 "bail outs" in that timescale"? "Bail out" in that context implies that one or more in the sequence has lost money.

Previous owners (name beginning with the "M" on the tails) put some money in in 2014 but ended up selling the business as a going concern minus several hundred million in pension deficit. Some would say that was a result for them (hugely reducing their liabilities) i.e. the investor has profited and what was their airline keeps going. There's absolutely nothing to stop them buying it back later.

Greybull, being shrewd investors, saw an opportunity and put in a sum in 2014 and if they were to sell all of their share (or a portion) now they would realise a profit, Monarch having been in profit last year and this, with a world-class EBITDA. So again the investor has profited.

There seems to be an assumption that smaller airlines cannot make a profit, but they can if their costs are in line with their competitors, as Monarch's very much now are.

IF a foreign investor wanted to invest in European aviation post Brexit, why not buy an airline that has passed the test of being able to adapt to market conditions and be competitive with the likes of FR and easy? A company's main asset is its people, and by all accounts the Monarch Group's people are its greatest asset, so interest from investors outside the EU in a profitable airline in the current post-Brexit situation to me seems inevitable.
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Old 4th Oct 2016, 19:37
  #3752 (permalink)  
 
Join Date: Jan 2016
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I would not like to see Monarch go to the wall, however if anyone thinks that great people can save an airline, then they are living in cloud cuckoo land. You can do the best you can but if the boys at the top think differently then all is in vain. Just like the amazing people at Midland, myself included were to find out. I got out before the Lufthansa takeover. Someone posted earlier that Monarch were well known in England and just an opinion but England is not the UK. As I said before, I would never consider booking with them and certainly not now, but good luck to them mostly the employees.
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Old 4th Oct 2016, 20:12
  #3753 (permalink)  
 
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I dont think anyone said great people alone could save a business, However at the end of the day the staff are very often what sets a company apart and having a onside driven workforce is a great asset especially in aviation

Didn't Midland choose monarch engineering to look after their 330 long haul operation DC9? .....

Last edited by Brigantee; 4th Oct 2016 at 20:34.
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Old 4th Oct 2016, 21:10
  #3754 (permalink)  
 
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Yes Midland did have Monarch at Manchester. I fail to see however, any relevance an engineering contract from quite a few years ago has anything to do with their current predicament now.
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Old 4th Oct 2016, 21:18
  #3755 (permalink)  
 
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Just found it interesting midland who had of course a main engineering base at manchester chose to entrust the task of maintaining their flagship long haul operation to monarch engineers ...
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Old 4th Oct 2016, 21:27
  #3756 (permalink)  
 
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Manchester was never a main engineering base for Midland. It was the same as all other outstations with based engineers covering turnaround and nightstopping frames. All heavy maintenance was performed at Heathrow or East Mids. Saab and Embrier at Abz.
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Old 4th Oct 2016, 21:31
  #3757 (permalink)  
 
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It certainly had a significant line operation that could have looked after the 330 operation had midland choosen to let its own people look after the aircraft rather than contract monarch to do so ...However im sure they had their reasons .

Monarch did not do the base maintenace as i recall only the line operation , Didn't Lufthansa do the heavy mainteance in the phillipines ?
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Old 4th Oct 2016, 21:43
  #3758 (permalink)  
 
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As far as I recall, only two engineers were on shift at any one time. They could never have covered the A330 ops. Regional was covered by a third party company also. Heavy maintenance on the A330 was indeed performed by Lufthansa, however I don't know the location.
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Old 5th Oct 2016, 07:57
  #3759 (permalink)  
 
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I've been there. More than once.

It never came.

Hoping for a sunnier outlook for those involved.
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Old 5th Oct 2016, 08:13
  #3760 (permalink)  
 
Join Date: Jan 2007
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Has the "shadow airline" returned home yet? (beyond the Miami air)
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