Monarch 4

[HotandCold]

Reports on social media saying a one day extension period to ATOL.

[ORAC]

Telegraph:

“Monarch, the UK’s fifth largest airline, was today granted a one day extension to its licence after emergency talks with regulators.

Monarch’s ATOL licence is due to expire, but its bosses were trying to convince the Civil Aviation Authority (CAA) to grant it a renewal.

With the airline’s future in doubt, the CAA said it would provide a “daily update” on the status of its ability to operate its package holiday arm......”

[toledoashley]

Saw this on !!!!!!!!!!!!!!, I wonder why they have set up another company (1 month old), based at Prospect House...? Shelfco 2017 Limited in London Luton Airport LUTON - LU2 9NU

[daz211]

My question is would the CAA go through the trouble and cost of last year organising rescue Aircraft If they were going to be issued a full ATOL the CAA would have been more than aware that the ATOL was up this weekend and in my mind would have already made its mind up to some extent on the outcome and again in my mind I would not have organised rescue flights if I thought it would all be ok on the day especially after last year and to me a day by day ATOL sounds to me like let's find the best day for all parties to get Aircraft in place and notify affected customers.

[scr1]

on the BBC as well

Monarch package holidays protection extended for 24 hours - BBC News

[TartinTon]

Well spotted toledoashley....looks like it's 5 days old...prep for the option for a management buyout maybe?

[daz211]

Hope it's not the name of the UK,s new longhaul Airline

[toledoashley]

Yeah, looks like Monarch Holdings has a share in at well... Looks very much like the beginnings of a rebirth.

[southside bobby]

Oh hum...if it were only that simple...

[lee757]

Wizz air also started a new company the following day - arent they a reported bidder?
https://beta.companieshouse.gov.uk/company/10982241

[daz211]

The plot thickens or it could be a simple case of 2 + 2 = 5
The next few days should be quite interesting.

[Chidken Sangwich]

Correct me if I am wrong but if you are a Director of a bankrupt business you are automatically disqualified from being the Director of another?

[IB4138]

You are wrong.

[daz211]

Shelf Company or shelf Co

Definition

Ready made 'paper company' that has fulfilled all requirements for legal registration, and may be bought by anyone to bypass the lengthy registration or incorporation process. Shelf companies are formed and sold usually by accounting or law firms. Also called blank check company. See also shell company.

Read more: What is shelf company? definition and meaning - BusinessDictionary.com

[toledoashley]

So likely set up by KPMG then?

[IB4138]

Wizzair are in the process of applying for a UK AOL, so needed a UK registered company, which they now have.

[AirGuru]

We could well see a Wizzair UK buyout in the coming days.

Valuable slots etc at key UK airports.

[FlatBroke]

Really? What makes you think that? How valuable are the slots? Where has Norwegian/Jet2 got the slots to expand?

[The96er]

We could well see a Wizzair UK buyout in the coming days.

Would Wizzair be interested in the MAN, BHX, LBA and LGW parts of the operation though. There doesn't appear to be one suitor that's interested in the airline as a whole. Only small parts that suit their own needs. Maybe this is what's causing a hold up.

[toledoashley]

Wizz has previously said they were in the process of securing a UK AOC, in which they would need a UK holding company. It could just be a coincidence.