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Monarch 4

Old 1st Oct 2017, 19:32
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Originally Posted by Cazza_fly
Me neither, very amateur and only posts from second hand sources. However on this one, unfortunately i believe he's correct. I also feel with this the case a decision has already been made...
I'm hearing a decision has been made but because I'm not hear to score points about posting first I would really not like to comment any further just incase my info is wrong and we all need to understand we are not just talking about an airline but real people.
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Old 1st Oct 2017, 19:35
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Should I rebook my Wednesday Monarch flight before the one and only alternative gets booked up?
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Old 1st Oct 2017, 19:40
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Originally Posted by daz211
I'm hearing a decision has been made but because I'm not hear to score points about posting first I would really not like to comment any further just incase my info is wrong and we all need to understand we are not just talking about an airline but real people.
Sounds pretty conclusive to me... esp if the QR flights and bases at LGW and BHX have been filed.
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Old 1st Oct 2017, 19:45
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LAB heading to LGW looks like it will soon all be over for MON what a damn crying shame. The UKs oldest non rebranded airline. Good luck to all crew and staff
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Old 1st Oct 2017, 19:45
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First Qatar A320 airborne and headed for LGW. 2nd has just pushed off stand and is taxiing. As in my previous post, I am not trolling just stating facts.
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Old 1st Oct 2017, 19:46
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Is it stupid of me to ask, it even feels stupid typing it, but would the Qatar aircraft coming over possibly suggest a takeover by IAG(seeing as Qatar and BA have been close recently)?
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Old 1st Oct 2017, 19:50
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Is that a second one en-route too? :-( (Edit; just seen CC's post :-( )
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Old 1st Oct 2017, 19:53
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Originally Posted by Piltdown Man
When accountants get their snouts in the trough the game is up. I don't think any accounting firm has ever brought any business back from the brink, but Christ have they managed to extract whatever is left in the carcass of any dying business they get their greedy paws on. And they walk away wilh full pockets, they leave nothing for the employees. I reckon if these people are so good, they should only ever work on a payment by results basis. Save the company = you get paid. But no, they are not that good and never have been. But I'm truly sorry for the employees of Monarch. I hope they are able to find worthwhile employment in the very near future.
Ah, the obligatory 'blame the Accountant' post! Jesting aside, I will give you my view. I suspect Monarch's liabilities exceed their assets by a considerable margin and the firm's liquidity (read cashflow), is dying up, so someone, somewhere has decided to pull the plug. The appointed Insolvency Practitioner (yes, usually a qualified Accountant), will make an assessment whether the business can be salvaged or sold on. More often than not, because the debts have mounted up and the assets are mortgaged up to the hilt, there isn't alot to sell on! Alternatively the order-book is poor, so there isn't alot of point in continuing. (However, in this case of Monarch, the slots at Gatwick may be worth a few quid, assuming Monarch have the rights to them.)

As the Accountants (read Insolvency Practitioner), being paid for their services, that's par for the course. Of course, there is a pecking list of creditors and the great British Government in the form of HMRC is at the top of the list, followed by Lenders with secured assets. Failed businesses can be salvaged by the Accountants and one good example is Jessops. Sure, it hasn't survived in its previous shape and form but it is still going.

Don't get me wrong, the failure of Monarch is not good. From a personal perspective, I've experienced unemployment as it isn't particularly pleasant. If one has onerous financial and family commitments, it can be disconcerting. Fingers crossed, Monarch survives.
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Old 1st Oct 2017, 19:56
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Thinking aloud here... if the problem rests solely with the ATOL bond, which is held by Monarch Holidays, then could we see a situation where Monarch Holidays is wound up/liquidated, but Monarch Airlines continues?

Or has the ATOL situation prompted the CAA to take a closer look at the group as a whole?

Either way, hoping for a resolution, the staff at Monarch deserve so much better.
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Old 1st Oct 2017, 19:59
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Really feel sad for the Monarch staff and crews ,a great airline completely ruined as a previous poster said by idiots in the boardroom.
Hoping this is not bad news for all of you ...but am now beginning to fear the worst ,as these standby aircraft are leaving Doha 😥
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Old 1st Oct 2017, 19:59
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The airline could survive, but not realistically under the same ownership (nobody in their right mind would provide payment processing services). I might be in denial, but it seems to me to have so many valuable assets that I can't see it not being taken over. I kind of still expect it to be there tomorrow*.

*unless it has already been asset-stripped.

Meanwhile... it looks like No3 is on the way too :-(
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Old 1st Oct 2017, 19:59
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Last year aircraft were being parked remotely despite Monarch operating normally the following day.

This action is taken by the handlers in retaliation of what they have been hearing in the media. Until an announcement is made if there is one due Monarch will operate normally up until the last minute.

It appears the third aircraft is pushing back
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Old 1st Oct 2017, 20:00
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FR24 shows A7 - LAD now on taxi at Doha. No destination showing yet, but appears to be from a remote stand, rather than the terminal
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Old 1st Oct 2017, 20:01
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A7-LAA now in the air, A7-LAD now showing on
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Old 1st Oct 2017, 20:03
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^^ HMRC haven't been top of the list for 15 years now
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Old 1st Oct 2017, 20:06
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A7-LAG now pushing back
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Old 1st Oct 2017, 20:07
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Originally Posted by mathers_wales_uk
Last year aircraft were being parked remotely despite Monarch operating normally the following day.

This action is taken by the handlers in retaliation of what they have been hearing in the media. Until an announcement is made if there is one due Monarch will operate normally up until the last minute.

It appears the third aircraft is pushing back
Sorry I'm I reading this wrong ?
Are you saying the handlers watch the news and decide to fly aircraft halfway round the world?

What's different this time is aircraft are leaving hours before the ATOL runs out yes a few were sent ahead but a decision was made to hold some back and now they decide to send them.
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Old 1st Oct 2017, 20:10
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A7-LAE, F and G all headed for BHX.

Hoping they are all wasting their time !
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Old 1st Oct 2017, 20:10
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Originally Posted by daz211
Sorry I'm I reading this wrong ?
Are you saying the handlers watch the news and decide to fly aircraft halfway round the world?

What's different this time is aircraft are leaving hours before the ATOL runs out yes a few were sent ahead but a decision was made to hold some back and now they decide to send them.
No handlers / airport authorities make decision on where to park the aircraft.

CAA has made the decision on positioning aircraft. Last year they did the same with United B747's and other aircraft being sent down-route.

A7-LAF now also starting-up
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Old 1st Oct 2017, 20:15
  #420 (permalink)  
 
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Last year there were 1 or 2 flights which were due to depart later in the evening but had longish delays. When they started parking aircraft on stand didnt a couple of ZB pilots refuse to go initially.

Wonder if ZB298 and ZB418 go on time / if at all - are these the only to due to go before midnight?
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