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Monarch-5

Old 1st May 2021, 21:42
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Monarch-5

The UK taxpayer ended up paying for the repatriation flights at a cost of £60m.
https://www.thisismoney.co.uk/money/...e-Monarch.html

Documents from administrators at KPMG show that Greybull Capital, Monarch’s former owner, made a loss from the administration. Greybull, a secured creditor, promised to reimburse the Department for Transport for some or all of the repatriation flights if it made money from the administration.

Last edited by tubby linton; 1st May 2021 at 22:24.
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Old 2nd May 2021, 07:42
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I though this was going to be about a BE-esque ‘Monarch MkII’ ! Can you imagine? Would probably go as badly as the sequel Jaws-The Revenge
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Old 2nd May 2021, 10:32
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From my understanding Greybull ‘managed ‘ Monarch, then charged massive‘management fees’. The two main shareholders would have got dividends plus a majority of the sale of assets and guess who were the main shareholders....the Meohas brothers
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Old 2nd May 2021, 10:51
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tubby linton

Who'd have thought it, accountants engineer a loss, we pick up the tab!
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Old 2nd May 2021, 17:17
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THE best accountants and lawyers in the world reside in the movie and entertainment business. A movie can take zillions and always seems to make a "loss"

Not for nothing do they use the phrase "don't mess with the Mouse"
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Old 2nd May 2021, 19:34
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Known as “Hollywood Accounting”.

https://en.m.wikipedia.org/wiki/Hollywood_accounting

But I’m sure this is all legal and above board, and just another unfortunate failure for Greybull, who don’t seem to have much luck with the companies they invest in (Comet, Riley’s pool hall’s, M Local, Monarch, Tata Steel...)
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Old 3rd May 2021, 10:43
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Also appears the airline has now moved from Administration to dissolution:
https://www.insolvency-kpmg.co.uk/Vi...0-347f90481a6c
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Old 3rd May 2021, 22:48
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Would anybody have a list of the current location of the former Monarch fleet?
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Old 4th May 2021, 09:08
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Does this help?

Monarch Airlines Fleet List (jethros.org.uk)
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Old 4th May 2021, 12:50
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Many thanks Jethro, at least some of them haven’t become beer cans yet.
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