Monarch - 3
Join Date: Jan 2012
Location: UK
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Very true they do have very loyal customer base who are no doubt very concerned they to start flying with the riff raff on jet 2
I suggest you start doing some research on the competition - Monarch management could learn some lessons from Jet2.
In respect of problem passengers I can assure you that all UK airlines suffer from certain individuals - awareness is high of Jet2 on this subject because they are actually trying to do something about it.
As for KyleRBs comment about the Mantegazzo's being 'very shrewd business people' - all I can say is
ha ha ha ha ha ha ha ha ha ha ha!
Join Date: Oct 2008
Location: UK
Age: 43
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Cuillin Hills
Not sure what your point is re Monarch's previous owners. I've never been a pax with Jet2 but I've heard their management team is very good.
Brigantee
I would expect Monarch to expand and diversify their flying schedule.
Not sure what your point is re Monarch's previous owners. I've never been a pax with Jet2 but I've heard their management team is very good.
Brigantee
I would expect Monarch to expand and diversify their flying schedule.
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Cuillin Hills
Not sure what your point is re Monarch's previous owners.
Not sure what your point is re Monarch's previous owners.
As owners they were diabolical - particularly in respect of the quality of various managing directors they bestowed on the company. This was either deliberate or incompetence.
They walked away from their responsibilities in respect of their pension obligations. Many loyal employees totally stuffed and out of pocket big time.
I don't think you will find many employees of Monarch, past or present, who will disagree with me.
A bit clearer now?
Last edited by Cuillin Hills; 4th Oct 2016 at 07:14.
Join Date: Oct 2008
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Cuillin Hills
We are on the same page! I totally agree with you and my suspicion is it was deliberate as opposed to incompetent. Losses and taxes come to mind and one or two other things! The family ran it for their own needs and never cared about Monarch or it's employees.
We are on the same page! I totally agree with you and my suspicion is it was deliberate as opposed to incompetent. Losses and taxes come to mind and one or two other things! The family ran it for their own needs and never cared about Monarch or it's employees.
Join Date: Aug 1999
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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....
Join Date: Jun 2016
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.
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.
Join Date: Feb 2005
Location: Middle england
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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
You can only announce something when you have it
Join Date: Aug 2014
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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 ?
Who actually picks up the tab for the "rescue" flights if the company involved carries on trading ?
Join Date: May 2016
Location: United Kingdom
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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 ?
Who actually picks up the tab for the "rescue" flights if the company involved carries on trading ?
Join Date: Mar 2001
Location: Either the back of a sim, or wherever Crewing send me.
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tacky package holiday.
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.
Join Date: Jun 2005
Location: London, UK
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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.
Join Date: Jun 2005
Location: London, UK
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which has had 3 bail outs in less than 3 years
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.
Join Date: Jan 2016
Location: liverpool
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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.
Join Date: Aug 2014
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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? .....
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.
Join Date: Jan 2016
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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.
Join Date: Aug 2014
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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 ...