BBC just..talks still continuing inside CAA offices ,Not due to break up for another hour and a half.

They didnt need them last year either.

Granted it doesn't look great yet again but hope they are still about tomorrow.

Monarch's balance sheet alone, actually, isn't bad. Lots of cash available.

BA, Ryanair and easyJet don't suffer from the same issues because they are all huge. Economies of scale. Monarch isn't huge, but they have been attempting expansion and cost cutting in the last few years, which is why they've ordered a load of 737's.

ATOL is just protection. It's not the AOC. The airline won't immediayely collapse, I don't believe, if the ATOL is not renewed.

Monarch used to be completely charter and it transitioned to scheduled as a reaction to a changing market. Cosmos, the holiday bookings section of the company, is now a tiny proportion, and many of its holidays are to destination that's monarch doesn't even fly to.

Monarch has been trading as Monarch since 1967, they used to suffer badly from an outdated business model, they've tried to adapt but maybe it was too little too late.

The media are trying to sell stories as always so they'll pump up the drama. And people believe it, as always. You can't blame a wasp for stinging you.

Ryanair is suffering from a pilot shortage because nobody, including the average monarch pilot, wants to work there. And as of right now the monarch pilots still have a job.

As a side note it appears that Ryanair didn't even try to wet lease aircraft to cover their shortfall and honour the tickets they've sold. Says a lot about them if it is as it looks.

I hope monarch survives in any way it can to keep it's people in a job. It's a tough business.

Financial fitness is regulated by the type A Operating Licence. The CAA would be very reluctant to remove unless there was no other option.

Type A
 

Runway ZB hold a type A and thus the Financial fitness of the airline will be subject to separate bonding requirements. I suspect this is more important than the ATOL.. ERG - economic regulation group of the CAA will be watching them like a hawk of late - looking at losses, exposure, cash position etc.. the more you lose or the more you look unfit the higher the bonding will be required and this will be a cash bond in the bank for the airline side ...

Source of your info ?

Their credit card payment services provider will also be watching them like a hawk, and will hold back whatever %age of transactions they see fit (increasing it up to 100% if they deem necessary). This could also be fatal.

As it was at FlyGlobespan! ( The fatal bit)

Sorry but it isn't a bond.

Applicants for a Type A Operating Licence must demonstrate that they have sufficient funding for the first two years of operations, including that they are able to meet their costs for the first three months of operations without income.

The exact amount of funding is established by the CAA based on a realistic business plan submitted by the applicant.

That was different; their credit card provider turned out to be bit of a scammer :-(

ZB418 BHX - IBZ has just canx midway through boarding

My understanding is that it's an on going requirement and you required to prove a certain amount of liquidity no matter what age of carrier your are ?!

They have just cancelled the 22:55 BHX-IBZ was boarding as well...

I don't think the CAA will get its hands burnt 2 years running in paying for these flights.
I think the CAA will be after a business plan that will see monarch not being in the same place again next year. However someone already pointed out this is the 3rd time in 4 years the CAA must be very concerned

ZB418 CANCELLED

Ibiza cancelled :-(

Yes I know.. I was there!
That's why I put brackets around the fatal bit.
Starved of cash flow was the general point.

Q

ZB298 - Enquire at airline

Absolutely correct, it is continuous monitoring.

Doesnt look good at all

Same as the Birmingham.

Absolutely devastated.