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Monarch in turbulence

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Monarch in turbulence

Old 12th Oct 2016, 07:05
  #621 (permalink)  
 
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Monarch secures 165M cash injection...

Monarch airline wins 165m investment from Greybull - BBC News


Bit of relief for the employees...but is it just delaying the inevitable ?
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Old 12th Oct 2016, 07:14
  #622 (permalink)  
 
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I dont think anyone invests 165m without a reasonable chance that it will show a return, however small. That return may of course be a sale or part sale to other interested parties - not possible if the assett is defunct due to lack of cash.
Anyway delighted for all at Monarch that the immediate future is clear.
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Old 12th Oct 2016, 16:36
  #623 (permalink)  
 
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Bit of relief for the employees...but is it just delaying the inevitable ?
Let's see this time next year. Fingers crossed come on Monarch!
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Old 30th Sep 2017, 16:36
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Monarch CEO Incorporates Scheduled passenger air transport

Any knowledge as to why Monarch's CEO, Andrew Swaffield & Co. have incorporated a 'new scheduled passenger air transport' company?
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Old 30th Sep 2017, 21:15
  #625 (permalink)  
CPR
 
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Go to the other thread. It's all explained there and saves repeating yourself.
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Old 2nd Oct 2017, 04:10
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Administration

Monarch have now enterd administration with all flights cancelled. Seems like the UK CAA will accommodate all return flights.
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Old 2nd Oct 2017, 04:15
  #627 (permalink)  
 
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Sad news for all at the airline.
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Old 2nd Oct 2017, 05:16
  #628 (permalink)  
 
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Massive sympathy to our Monarch friends. I know that means little at this torrid time however many will have their fingers crossed that things work out for you all in a timely and suitable manner.
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Old 2nd Oct 2017, 06:36
  #629 (permalink)  

Champagne anyone...?
 
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Horrible news for the crews and their families. Virgin Atlantic have an ongoing requirement for Airbus pilots.
Good luck to all those affected.
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Old 2nd Oct 2017, 07:41
  #630 (permalink)  
 
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Sad News indeed. The job market seems quite bouyant at the moment so hopefully everyone will get re-employed. How many pilots work there?
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Old 2nd Oct 2017, 10:51
  #631 (permalink)  
 
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There's never a good time to lose one's job but the run up to Christmas is especially bad, I add my best wishes to all those affected (not just the pilots). If family life can handle with it, I believe that Wizz are also taking on crews, best wishes to all.
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Old 2nd Oct 2017, 11:19
  #632 (permalink)  
 
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Cathay Dragon (based Hong Kong for those Ex Monarchs who've previously not heard of it) are about to hire direct entry captains A330/A320. Plus, they need trainers, as 50% the incumbents are sycophantic psychopaths .
With that in mind, do enjoy your conversion and the way of the Dragon.
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Old 2nd Oct 2017, 13:13
  #633 (permalink)  
 
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Virgin have setup a dedicated page for ZB drivers, best of luck to all.

https://careers.virgin-atlantic.com/...iypgteomqdnpnq
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Old 2nd Oct 2017, 16:43
  #634 (permalink)  
 
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Virgin and Aer Lingus looking to talk to Monarch guys now. Two fantastic companies. Best of luck to all affected.
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Old 2nd Oct 2017, 16:51
  #635 (permalink)  
 
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Wow, good luck fellows.
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Old 2nd Oct 2017, 19:26
  #636 (permalink)  
 
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Originally Posted by i_spy View Post
Any knowledge as to why Monarch's CEO, Andrew Swaffield & Co. have incorporated a 'new scheduled passenger air transport' company?
No actual knowledge, but speculation that they may be in the bidding for part of the business, free of all its liabilities.

The interesting bit is that the 2016 accounts were signed off on 1st September 2017 and filed on the 2nd and low and behold the company went belly up shortly thereafter, with just a little gobbledygook from its auditors about going concern.

So who are the biggest losers the taxpayer yet again. Out of whose purse the 110,000 pax will need to be repatriated and when they are back on home soil will have to use their otherwise redundant buckets and spades to dig deep and shovel the lost revenue back into the governments coffers. Not forgetting the fact that redundancy and unpaid holiday entitlement payments for 2000 employees will also require further excavation.

They should have taken it off life support at its previous coronary event in September 2016.
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Old 2nd Oct 2017, 19:51
  #637 (permalink)  
 
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Chronus,
You are wrong. The biggest loosers are the very many highly professional, dedicated & most of all loyal Monarch Crews & Staff, who have basically been shafted. Unfortunately all this counts for little these, not much honour or integrity about.
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Old 2nd Oct 2017, 21:53
  #638 (permalink)  
 
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So who are the biggest losers the taxpayer yet again. Out of whose purse the 110,000 pax will need to be repatriated
Are you sure of this? Surely this is what the ATOL bond scheme with the CAA is for? I doubt the taxpayer is paying anything - just Goverment ministers twisting the facts trying to big thmeselves up as saviours of the "stranded".
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Old 3rd Oct 2017, 05:11
  #639 (permalink)  
 
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It sure comes back to the taxpayers in the end, doesn't it always!
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Old 3rd Oct 2017, 06:37
  #640 (permalink)  
 
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totally wrong

the monarch repatriation is not paid out of your pockets nor any UK tax payer

the costs are all met from the air travel reserve fund (a Bond) set up after the Clarksons Court line collapse in 1974 (it was called TOSG then)

that collapse was big almost 50000 repatriated in 1974 - this is more than twice that

any air ticket and ATOL booking is costed with an amount into that when tour operators and airlines place their bond with the CAA

Last edited by rog747; 3rd Oct 2017 at 16:17.
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