Monarch - 3
Can we stop this irresponsible speculation - enough damage has been done already. I would suggest Monarch turn their attention towards to people perpetrating / perpetuating this story.
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All "holiday" airlines (and tour operators) like Monarch, are usually highly profitable during the summer and loss making during the winter. Even the village idiot should be able to make hay in summer. To me this smacks of Greybull trying to pull the plug at the most opportune time of year for them, after siphoning off the summers earnings and before the annual winter loss arrives.
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Passed point of no return??
Crew probably looking forward to a change of scenery as well.
Will the CAA foot the bill for these charters? They're not known for their generosity.
Crew probably looking forward to a change of scenery as well.
Will the CAA foot the bill for these charters? They're not known for their generosity.
Winter beckons and confidence in forward bookings died last night. Greybull will likely not see an ROI without ploughing even more in. They don't seem keen IMHO.
I would not book with Monarch going forward for a long time, would you? If they make it to the summer, it would be a huge achievement. There are just safer options that Joe Public knows equally as well for a similar price point.
I would not book with Monarch going forward for a long time, would you? If they make it to the summer, it would be a huge achievement. There are just safer options that Joe Public knows equally as well for a similar price point.
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Can we stop this irresponsible speculation - enough damage has been done already. I would suggest Monarch turn their attention towards to people perpetrating / perpetuating this story.
All this rumour mongering is bloody silly, from about 3 pieces of disconnected (and possibly irrelevant) information some people have managed to concoct a massive faff.
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Business - BBC News
Budget airline Monarch says its flights are operating as normal following "negative speculation" about the firm's financial health over the weekend.
Monarch said it was "trading well" despite a difficult period for the industry because of terrorist incidents, Brexit and the weak pound.
It added that a significant investment would be announced in the coming days.
Over the weekend Monarch denied speculation that the company was going bust. A spokesperson said they had no idea where the rumours were coming from but that there "were not true". Speculation about its alleged collapse surfaced from customers on the company's Twitter feed.
Monarch said on Monday it expected to make more than £40m in underlying earnings by the end of its financial year in October.
Atol protection
It said in a statement: "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." The airline is protected by the Air Traffic Organisers' Licensing (Atol) scheme - a government scheme which refunds customers if a travel firm collapses, and ensures they are not stranded. Earlier this year Low Cost Holidays collapsed, without Atol protection, leaving 27,000 customers abroad.
Monarch employs around 2,800 staff and is based at Luton airport.
Investment firm Greybull Capital bought a 90% stake in Monarch in 2014. It also bought a division of Tata Steel this year, as well as 140 M Local convenience stores from Morrisons, which subsequently went into administration.
Budget airline Monarch says its flights are operating as normal following "negative speculation" about the firm's financial health over the weekend.
Monarch said it was "trading well" despite a difficult period for the industry because of terrorist incidents, Brexit and the weak pound.
It added that a significant investment would be announced in the coming days.
Over the weekend Monarch denied speculation that the company was going bust. A spokesperson said they had no idea where the rumours were coming from but that there "were not true". Speculation about its alleged collapse surfaced from customers on the company's Twitter feed.
Monarch said on Monday it expected to make more than £40m in underlying earnings by the end of its financial year in October.
Atol protection
It said in a statement: "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." The airline is protected by the Air Traffic Organisers' Licensing (Atol) scheme - a government scheme which refunds customers if a travel firm collapses, and ensures they are not stranded. Earlier this year Low Cost Holidays collapsed, without Atol protection, leaving 27,000 customers abroad.
Monarch employs around 2,800 staff and is based at Luton airport.
Investment firm Greybull Capital bought a 90% stake in Monarch in 2014. It also bought a division of Tata Steel this year, as well as 140 M Local convenience stores from Morrisons, which subsequently went into administration.
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Business - BBC News http://www.bbc.co.uk/news/business-37469743
Budget airline Monarch says its flights are operating as normal following "negative speculation" about the firm's financial health over the weekend.
Monarch said it was "trading well" despite a difficult period for the industry because of terrorist incidents, Brexit and the weak pound.
It added that a significant investment would be announced in the coming days.
Over the weekend Monarch denied speculation that the company was going bust. A spokesperson said they had no idea where the rumours were coming from but that there "were not true". Speculation about its alleged collapse surfaced from customers on the company's Twitter feed.
Monarch said on Monday it expected to make more than £40m in underlying earnings by the end of its financial year in October.
Atol protection
It said in a statement: "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." The airline is protected by the Air Traffic Organisers' Licensing (Atol) scheme - a government scheme which refunds customers if a travel firm collapses, and ensures they are not stranded. Earlier this year Low Cost Holidays collapsed, without Atol protection, leaving 27,000 customers abroad.
Monarch employs around 2,800 staff and is based at Luton airport.
Investment firm Greybull Capital bought a 90% stake in Monarch in 2014. It also bought a division of Tata Steel this year, as well as 140 M Local convenience stores from Morrisons, which subsequently went into administration.
Budget airline Monarch says its flights are operating as normal following "negative speculation" about the firm's financial health over the weekend.
Monarch said it was "trading well" despite a difficult period for the industry because of terrorist incidents, Brexit and the weak pound.
It added that a significant investment would be announced in the coming days.
Over the weekend Monarch denied speculation that the company was going bust. A spokesperson said they had no idea where the rumours were coming from but that there "were not true". Speculation about its alleged collapse surfaced from customers on the company's Twitter feed.
Monarch said on Monday it expected to make more than £40m in underlying earnings by the end of its financial year in October.
Atol protection
It said in a statement: "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." The airline is protected by the Air Traffic Organisers' Licensing (Atol) scheme - a government scheme which refunds customers if a travel firm collapses, and ensures they are not stranded. Earlier this year Low Cost Holidays collapsed, without Atol protection, leaving 27,000 customers abroad.
Monarch employs around 2,800 staff and is based at Luton airport.
Investment firm Greybull Capital bought a 90% stake in Monarch in 2014. It also bought a division of Tata Steel this year, as well as 140 M Local convenience stores from Morrisons, which subsequently went into administration.
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If its just malicious gossip then it's having an effect.
On airliners.net someone has posted they work in a call centre and have been readied for an airline collapse.
Airplanes coming in from USA. Schedules being made (i always thought US airlines filed on the day from experience)
Surely there must be lift available in Europe?
Monarchs aircraft being parked on remote stands at MAN (is this normal - its cheaper )
I hope its just a wind up but the pace of the world wide web is more like the wild wild west
On airliners.net someone has posted they work in a call centre and have been readied for an airline collapse.
Airplanes coming in from USA. Schedules being made (i always thought US airlines filed on the day from experience)
Surely there must be lift available in Europe?
Monarchs aircraft being parked on remote stands at MAN (is this normal - its cheaper )
I hope its just a wind up but the pace of the world wide web is more like the wild wild west
Pure, possibly unfounded and irresponsible speculation was that Monarch were therefore going bust. It could equally have been that a Spanish hotel chain was in difficulties, cruise line on the brink, coup d'etat in the offing in Spain, or indeed an airline in trouble.
The most likely outcome, as a direct result of the speculation is the untimely demise of an airline and 2800 jobs. Good game; good game!!!
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"As an analyst, do you not think that keeping your opinions to yourself might be the better course of action; or do you relish the idea of putting several hundred people out of work?"
he might take the view that saving a lot of people's hard earned savings and their holidays is at least as important............................
he might take the view that saving a lot of people's hard earned savings and their holidays is at least as important............................
United 747 still enroute to TFS and hasn't turned back.
Hoping that MON can weather this.
Last edited by Wycombe; 26th Sep 2016 at 08:51. Reason: Removed comments re. turnback. Looks to be still on it's way after some mid-Atlantic turns or a feed glitch.
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And to NAP and VCE and DBV.
Operating slots not similar but perfect match for Monarch. And not any other carrier, only Monarch... FACTS... Conclusions, one's own... But irresponsible? How deep is that head in the sand?
Operating slots not similar but perfect match for Monarch. And not any other carrier, only Monarch... FACTS... Conclusions, one's own... But irresponsible? How deep is that head in the sand?
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The airline said: “Our flights are operating as normal, carrying Monarch passengers as scheduled.”
The statement conceded: “Over the weekend, there has been negative speculation about Monarch's financial health.” But it added Monarch was “trading well” and predicted a profit of over £40m for its financial year ending next month.
The statement conceded: “Over the weekend, there has been negative speculation about Monarch's financial health.” But it added Monarch was “trading well” and predicted a profit of over £40m for its financial year ending next month.
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HH
If you had half a brain you wouldn't make such a callous comment. Companies going under has massive implications which are far more severe than losing a holiday. ATOL bonding covers that as does paying with credit card so your comment doesn't apply.
I reckon there is some malicious intent from some posters to sink Monarch.
If you had half a brain you wouldn't make such a callous comment. Companies going under has massive implications which are far more severe than losing a holiday. ATOL bonding covers that as does paying with credit card so your comment doesn't apply.
I reckon there is some malicious intent from some posters to sink Monarch.
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The FACTS were that aircraft were being positioned to PMI and TFS and appear to be operating to slots similar to, or identical to Monarch slots.
Pure, possibly unfounded and irresponsible speculation was that Monarch were therefore going bust. It could equally have been that a Spanish hotel chain was in difficulties, cruise line on the brink, coup d'etat in the offing in Spain, or indeed an airline in trouble.
The most likely outcome, as a direct result of the speculation is the untimely demise of an airline and 2800 jobs. Good game; good game!!!
Pure, possibly unfounded and irresponsible speculation was that Monarch were therefore going bust. It could equally have been that a Spanish hotel chain was in difficulties, cruise line on the brink, coup d'etat in the offing in Spain, or indeed an airline in trouble.
The most likely outcome, as a direct result of the speculation is the untimely demise of an airline and 2800 jobs. Good game; good game!!!
Real aircraft and their real crews have been moved round the world on the instructions of the UK CAA, and you think the whole thing was made up by some bloke on the internet as a game?
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While this doesn't look good for MON, there is something fishy about the destinations these aircraft are going to....why NAP, VCE and DBV? They don't strike me as key destinations for an airlift home. Why nothing in Greece/Cyprus? What Naples, Dubrovnik and Venice do have in common with Palma and Tenerife is being key cruise destinations. So perhaps something else is going down.