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Monarch

Old 11th Aug 2017, 14:11
  #81 (permalink)  
 
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interesting article in todays times about Monarch
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Old 11th Aug 2017, 14:48
  #82 (permalink)  
 
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Nice to see the CEO managed to receive a inflation busting pay rise of 12 per cent this year ...
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Old 11th Aug 2017, 15:20
  #83 (permalink)  
 
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Still 50% less than the last who nearly sunk them
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Old 11th Aug 2017, 18:36
  #84 (permalink)  
 
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Losses that we expected due to the retirement of the airbus fleet (good old journalists) ,
Yes a juicy pay rise of 12% is a bit frustrating making it around the £550000 mark
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Old 11th Aug 2017, 19:22
  #85 (permalink)  
 
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You're attributing all those losses to retirement of the Airbus fleet?
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Old 12th Aug 2017, 00:11
  #86 (permalink)  
 
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Boeing rescues Monarch with new £165m fleet deal

Investment (sale and leaseback) by a company of which you are a customer is not a solid platform for the future.
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Old 12th Aug 2017, 06:01
  #87 (permalink)  
 
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From Travel Weekly,

Monarch reports losses of £290m as it reviews business model
by Amie Keeley Aug 11th 2017, 16:23
Monarch reports losses of £290m as it reviews business model
Monarch Airlines has reported pre-tax losses of £291 million following a spate of terrorist attacks and Britain’s vote to leave the EU slowed demand.

In its latest accounts filed on Companies House, the group also reveals it is “reviewing the current business model” to establish what the “size and shape of the airline should be going forward”.

Financial statement for the year ending October 21 2016, show the company made a pre-tax profit of £12.9 million, compared to £39.3 million the previous year.

Total revenue stood at £558 million, compared with £655 million in 2015.

The report cites a “number of trading headwinds” during the year which have impacted revenue, bookings and load factor, including the continued closure of Sharm El Shiekh airport, terrorist incidents in Turkey and the EU Referendum which resulted in “depressed bookings” and the devaluation of the Pound.

The airline will take delivery of its first Boeing 737 aircraft in March 2018 which it says will “significantly improve the underlying economics of the business” due to being more fuel efficient and requiring less maintenance.

Monarch received a £165 million cash injection from majority shareholders Greybull Capital last October after coming close to failure.

The lifeline convinced the CAA to renew its Air Travel Operators’ Licence (Atol) until this September.
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Old 12th Aug 2017, 09:16
  #88 (permalink)  
 
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The travel weekly article is very badly written . A quick search for the accounts will easily show what has been filed with Companies House. The airline has decided to put all the fleet changeover costs into the accounts , hence the poor figures.
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Old 12th Aug 2017, 09:19
  #89 (permalink)  
 
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The airline will take delivery of its first Boeing 737 aircraft in March 2018 which it says will “significantly improve the underlying economics of the business” due to being more fuel efficient and requiring less maintenance.
It's going to take 3-5 years for the new fleet to bed in and before Monarch sees the gains of fuel efficiency and less maintenance. The fleet today is hardly what is considered to be "old".

The airline has decided to put all the fleet changeover costs into the accounts , hence the poor figures.
Equally, Grey Bull have termed the sale and leaseback of their new aircraft an "investment" and "cash injection". Compared to last year, all that has happened is Boeing have been guaranteed they won't have surplus 737-Max lying around. The market is saturated with Jet2 and Norwegian now flying to the same destinations that EasyJet stole almost a decade ago now. One of these legacy charters needs to be swallowed up in order to survive. Resistance is a bit futile.

Last edited by MonarchOrBust; 12th Aug 2017 at 09:30.
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Old 12th Aug 2017, 09:32
  #90 (permalink)  
 
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I would consider a couple of 15 year old air buses old.
Even emirates faced an 80% drop in profits in 2016-17 ,
Greybull could easily walk away from Monarch , i believe that HNA offered them over 600 million for the business in 2015 but they refused . Supposedly they will carry out the sale and lease back (profit for them) and post brexit sell the to the Chinese
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Old 12th Aug 2017, 11:28
  #91 (permalink)  
 
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Although I believe there is a future for Monarch I think it's foolish to believe it's going to be Easy. And as for a 600 million pound valuation I think that's a bad case of Chinese wishpers. NHA are no fools, they are unlikely to buy something for £600 million that was sold for £1 a few years ago and is loosing money. At best it's only marginally profitable and looking back over the years it's lost billions, I think someone will want the airline but wether anyone offers an amount to keep Greybull happy that's a different question and what happens if no one does? (That's the very question that gave me sleepless nights and the reason I left).
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Old 12th Aug 2017, 12:02
  #92 (permalink)  
 
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I believe that throughout most of Monarchs history it has been loosing money or just turned a marginal profit,
But we still bumble along with decent T&Cs
With backers such as Boeing I believe that I am in a stable place which many would love to see fail .
But I'm sorry boys it looks like we are still here and have an optimistic future with LH on the horizon and a significant expansion on the cards . Some guys that left to go to the supposedly stronger airlines such as BA and Easy have returned with the knowledge that the grass most definitely is not greener !
I would prefer to enjoy my job and have a dark cloud over my head which btw hasn't rained for many many years (ever infact)! Than to slog it out at an airline where everyone believes that because they have 300 aircraft and make over a billion proof they are in a safe place ? I'm sorry chaps but even though your airlines make billions in profit they don't give a monkeys about your T&Cs or your future , you are just a number in a machine
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Old 12th Aug 2017, 12:22
  #93 (permalink)  
 
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So what would HNA get for their £600 million?
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Old 12th Aug 2017, 13:05
  #94 (permalink)  
 
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Quality and Standards
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Old 12th Aug 2017, 13:13
  #95 (permalink)  
 
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Just what every Airline share holder is desparate for.
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Old 12th Aug 2017, 13:27
  #96 (permalink)  
 
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Premium slots , streamlined airline , new fleet on the way , Boeing gold standard engineering , the Monarch brand (50 years old) .....
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Old 12th Aug 2017, 13:44
  #97 (permalink)  
 
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Originally Posted by Snapper5 View Post
I believe that throughout most of Monarchs history it has been loosing money or just turned a marginal profit,
But we still bumble along with decent T&Cs
With backers such as Boeing I believe that I am in a stable place which many would love to see fail .
But I'm sorry boys it looks like we are still here and have an optimistic future with LH on the horizon and a significant expansion on the cards . Some guys that left to go to the supposedly stronger airlines such as BA and Easy have returned with the knowledge that the grass most definitely is not greener !
I would prefer to enjoy my job and have a dark cloud over my head which btw hasn't rained for many many years (ever infact)! Than to slog it out at an airline where everyone believes that because they have 300 aircraft and make over a billion proof they are in a safe place ? I'm sorry chaps but even though your airlines make billions in profit they don't give a monkeys about your T&Cs or your future , you are just a number in a machine
You either have a very short memory, not been in Monarch long or have extreamly thick rose tinted glasses. Monarch are a good company to work for and it's a nice job. But don't kid yourself they are somehow special or saintly, not that long ago they made several hundred people redundant, slashed pay, forced part year working on people and ditached a pension fund that cost some employees hundreds of thousands possibly millions of pounds.

In the past Monarch we not designed to make money, the business served other purposes, those days are gone and grey bull are in, make no bones about it they are as ruthless as anyone in the business if Monarch fails them they will drop it in seconds.

I admire your confidence in Monarch but I am guessing you don't have a lot of experience of being an unemployed F/O. It has happened to me 3 times and each time I lost a year of my life desparatly searching for that new job. Once out of the system you will quickly see the contempt Airlines hold for DE FOs, they are only interested in cut priced cadets. Whilst it was annoying at the time it was not critical to my life but now I would loose my home and probably my family so living under that dark cloud is not an option.

I in no way want Monarch to fail, I hold them in my mind with great fondness and have many friends still there, but I don't think being total dismissive of their difficulties will be helpful to you or anyone else.
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Old 12th Aug 2017, 14:05
  #98 (permalink)  
 
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Enzo
I understand that it must be horrendous to be unemployed as an FO ,
I have been in Monarch for nearly 6 years and I am in the command process ,
I believe that no flight crew have been made redundant ever in Monarch .
Yes the pay has changed but what airline hasn't ? At least it's still pretty good for the work involved
Yes they screwed some guys pensions but they are getting a cheeky backhand of 10s of thousands a year apparently (all gone very quiet anyway )

I believe you left Monarch for BA SH ? Maybe you should have stayed and got a command ?
I have a young family and would choose Monarch every day over BA
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Old 12th Aug 2017, 14:34
  #99 (permalink)  
 
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Discussing Monarch's fortunes seems to be a hardy perennial and all the usual suspects emerge into the light!

I personally think Monarch will be fine, in what guise remains the enduring question!

Snapper5, I think I have worked out who you are!
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Old 12th Aug 2017, 15:35
  #100 (permalink)  
 
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Originally Posted by Snapper5 View Post
Enzo
I understand that it must be horrendous to be unemployed as an FO ,
I have been in Monarch for nearly 6 years and I am in the command process ,
I believe that no flight crew have been made redundant ever in Monarch .
Yes the pay has changed but what airline hasn't ? At least it's still pretty good for the work involved
Yes they screwed some guys pensions but they are getting a cheeky backhand of 10s of thousands a year apparently (all gone very quiet anyway )

I believe you left Monarch for BA SH ? Maybe you should have stayed and got a command ?
I have a young family and would choose Monarch every day over BA
You have been in 6 years and you can say this.... where have you been? Yes, they have made many flight crew redundant in your time and they bloody nearly made everyone so at one point. Those rose tinted glasses are working so so well.
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