Companies go bust making profits and some making losses survive.

Cash flow is king not Profit.

Any half decent accountant can turn a huge profit into a loss or vice versa very quickly, you either have cash or you don't.

Tinribs,

Are you suggesting that Monarch & by implication it's present & previous Staff, have or might have questionable integrity?

Regardless of what view you have on it Monarch were staring death in the face last night there is no two ways about it ! Whilst those chartered aircraft remain down route at various locations then question marks will remain although looking a far lot better than last night.

To anyone from inside MON this is no surprise, the company has spent millions on training every single staff member on 'Customer Service' with a focus on how to say please and thank you. Alongside this an inordinate amount of money is being spent on corporate rubbish aimed to boost 'synergy' in the company.

Staff are disgruntled with the way this amazing and proud company has been managed into the ground by an executive group who are happy to slash pensions, pay and working conditions but will channel huge amounts of funds into pointless vanity projects for their own gain.

Novair closed down without going bust and shut down in a controlled way - with a lot of rumours qbout under table deals.

I'm sure a decent morally minded accountant couldn't sleep at night or send their children to private school, knowing they might possibly screw thousands of people over.

I would say good night, but not for me.

Did your illustrious CEO receive an industry outstanding achievement award this year!?

He seems a little more camera shy in recent hours.

I'm sure the 2,500 staff are top of the board's priorities, and they'll be kept fully informed if there's anything their little heads need to know.

FlyANA,
Not an uncommon occurrence today, sadly.

FANS, I hope you don't mind me mentioning this, but as a Monarch employee, I find the tone of that comment very offensive. Is there any possibility you could depart the fix, now that you've done enough gloating about the situation?

Well said , He /She really is a odious turd ......Clearly getting off on peoples fears .

Im sure monarch will come through this , Great Airline .

He's just hoping for his glorious " I told you so" moment.

It is quite sickening to see so many people seem to take so much pleasure from telling others that they're buggered. Hopefully they will still be trawling these threads in 20 years time telling you all how you're crazy to be there and it's all going to fall apart!

Bad luck haters!!
Latest from top exec management is ATOL being sorted, plenty of profit to see Monarch into the winter and new investment in very near future sorted.
Monarch still looking good.

Enjoy your 4 sector min rest days!!

I'll lend them a fiver!

Management are the ones that usually allow a company go bust, Accountants report on it and advise on it but a CEO generally does what he wants.

And yeah I do know quite a few accountants who didn't sleep at night while trying to keep enough cash in a business to pay people while senior management didn't give a toss.

Ya and what are the vast majority of senior management in pretty much every company? Yes you guessed it, accountants! They are not all bad people but some of them are despicable human beings out to line only their own pockets and sleep even better after closing down companies etc because they lined their own pockets! End of rant!

I really hope Monarch pull through this! Thoughts with all you guys and gals. We might all work for various different companies but we should never want to see another pilot lose their job because of greedy corporate management scum.

Accountants on senior management? I'll believe that when the executive boards of airlines are comprised of pilots, flight crew and mechanics.

Seriously, look up the top 50 companies on FTSE/ASX and tell me if you can find two "accountants" sitting as CEOs. The accountants are too busy adding up numbers and doing ledgers at the basement level.

FlyANA I've observed that kind of 'modern management' for 30 years across a wide range of business types, when I working in Telecoms/IT. It's the way they 'do' mgmt these days when the 'drivers' (as they like to say) are the share price and/or 'RoI' that generate a pat on the head and a bonus.

If you have a majority of people at the top who have not worked their way up in the business - and CARE about the customer - it doesn't go well. They all parrot about the customer but all the customers know this is not true. Since the Directors are customers of other companies that ignore their customers, it dows make you wonder how they don't work out how easy it is.

[ NOT speaking specifically about Monarch, simply what I have observed in organisations as diverse as local government and international merchant banking. :suspect: ]

Ignorance is bliss as they say. Here you go downdata, read some of these:

https://www.icas.com/ca-today-news/o...ed-accountants
http://www.executiveworks.org/pdf/Th...background.pdf
https://www.financialdirector.co.uk/...ed-accountants
Those in the know on becoming CEO
Forbes Welcome

A mere selection of the myriad links from google!