Geestar
New member
More pilots for Ryanair
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Monarch into admin
- Thread starter Rugrat
- Start date
The Stout Yeoman
Master Farter
Yes shouldn't be too expensive to convert an all Airbus fleet airline over to Boeing ....
portlock seagull
Well-known member
- Jul 28, 2003
- 17,778
Was abroad when XL collapsed and had to come home with another operator at own expense. Shit happens, move on. It's not about the passengers today. It's the employees I feel for.
The Stout Yeoman
Master Farter
I was asleep under the desk on nights when Air Europe went bust ... that was the most memorable night shift ever ... for all the wrong reasons ....
Two Professors
Two Mad Professors
Feel sorry for the staff and hope something gets sorted sooner rather than later.Had a great holiday with them in Gran Canaria earlier in the year,but when I tried to re-book in August for this month,nothing doing.Trying Jet2 instead.
nicko31
Well-known member
Another business that's had to swallow the bitter pill of ex/rate losses, thank you Brexit
Whoislloydy
Well-known member
Friend was meant to be going to Ibiza with Monarch in a few days, which is now not happening. All the other airlines have sky rocketed their prices as people are looking for alternative flights.
GreersElbow
New member
Bit more to it, there's also the loss of demand due to the instability in core regions Monarch operate in. FX isn't particularly the issue - my company had a shit ton of forward contracts with very favourable rates for them, we were losing on those when considering mark-to-market
EDIT: I should, FX is of course a factor. But big companies have all kinds of exchange rate hedging, as far as I'm aware (I'm fairly well placed to comment on matters relating to Greybull) they landed some good deals. Management was definitely a big factor in it as well.
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BensGrandad
New member
Did I not hear on the news that they are hopeful that somebody will buy them out so that they can continue trading?
One would expect under the ATOL guarantee they would put them on other airlines flights with ATOL standing the extra cost.
One would expect under the ATOL guarantee they would put them on other airlines flights with ATOL standing the extra cost.
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GreersElbow
New member
You're mistaken. People are now waiting for asset valuations to snap them up.
Geestar
New member
The UK government really is the best isn't it.
AmexRuislip
Retired Spy 🕵️♂️
Not really, somebody in the gov must've been keeping an eye out on Monarchs activities!
Pavilionaire
Well-known member
- Jul 7, 2003
- 31,269
FFS - Next week the wife and I had a city break booked with Monarch - in Barcelona!!
GreersElbow
New member
Unlikely, Greybull injected just over £150m last year to pay for ATOL and other projects to try and make it efficient. Unfortunately...that failed
BensGrandad
New member
What are they trying to pick up cheap then? Couldnt the company be sold as a company with trading potential?
GreersElbow
New member
Their assets, BG.....
Yes, they could - if someone wants to buy them, but from what I'm hearing it's unlikely to find a buyer.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,019
its what ATOL is for, insurance for exactly this sort of scenario. the airlines/tour operators pay for it and there's funding in place, even plane capacity on standby iirc, for it.
Two Professors
Two Mad Professors
As they were already training for their conversion to 737's,you are right,sort of.