Whats going on with Monarch ?
Discussion
IanH755 said:
Boeing "bails out" Monarch - https://uk.news.yahoo.com/boeing-bails-monarch-165... - yet the article is suggesting thats it's just Monarch buying new planes?
I saw that and also though it made no sense. I suspect that as part of the Boeing deal they may have agreed to buy back some of the existing fleet on a sale and leaseback.....surveyor said:
I saw that and also though it made no sense. I suspect that as part of the Boeing deal they may have agreed to buy back some of the existing fleet on a sale and leaseback.....
Boeing wouldn't be buying any of the current Airbus fleet. Various reasons for that that I won't go into as they could be commercially sensitive.As for what is really going on with this deal, the simple answer is that none of us know. If it is Boeing or someone else, then anyone outside of a very small number of people doesn't know.
All the rest of us know is that the clock is still ticking and we just have to trust it'll get sorted out. There seems to be confidence that it will, which is heartening, but until the fat lady sings, I and a lot of others are nervous.
IforB said:
surveyor said:
I saw that and also though it made no sense. I suspect that as part of the Boeing deal they may have agreed to buy back some of the existing fleet on a sale and leaseback.....
Boeing wouldn't be buying any of the current Airbus fleet. Various reasons for that that I won't go into as they could be commercially sensitive.As for what is really going on with this deal, the simple answer is that none of us know. If it is Boeing or someone else, then anyone outside of a very small number of people doesn't know.
All the rest of us know is that the clock is still ticking and we just have to trust it'll get sorted out. There seems to be confidence that it will, which is heartening, but until the fat lady sings, I and a lot of others are nervous.
5150 said:
IforB said:
surveyor said:
I saw that and also though it made no sense. I suspect that as part of the Boeing deal they may have agreed to buy back some of the existing fleet on a sale and leaseback.....
Boeing wouldn't be buying any of the current Airbus fleet. Various reasons for that that I won't go into as they could be commercially sensitive.As for what is really going on with this deal, the simple answer is that none of us know. If it is Boeing or someone else, then anyone outside of a very small number of people doesn't know.
All the rest of us know is that the clock is still ticking and we just have to trust it'll get sorted out. There seems to be confidence that it will, which is heartening, but until the fat lady sings, I and a lot of others are nervous.
Monarch statement taken from their Facebook page:
OFFICIAL STATEMENT: Monarch, a leading UK independent airline group, today announces the biggest investment in its 48 year history, a £165 million investment from its majority shareholder, Greybull Capital.
As a result of this investment Monarch has successfully renewed its ATOL licences from the CAA for the next 12 months and funded future growth plans.
In October 2014, Monarch announced an order for 30 Boeing 737 MAX-8 aircraft, with options for a further 15 planes. The first of these aircraft is due to be delivered in 2018.
The arrival of these state-of-the-art, fuel efficient aircraft in less than two years’ will enable Monarch to continue to provide passengers with a best in class inflight experience and allow the company to enjoy significant operational cost savings.
Andrew Swaffield, Chief Executive Officer of The Monarch Group, commented: “It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our ATOL licences.
“I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”
Seabury Group LLC and Seabury Securities (UK) Ltd. served as financial advisor with respect to the recapitalisation.
OFFICIAL STATEMENT: Monarch, a leading UK independent airline group, today announces the biggest investment in its 48 year history, a £165 million investment from its majority shareholder, Greybull Capital.
As a result of this investment Monarch has successfully renewed its ATOL licences from the CAA for the next 12 months and funded future growth plans.
In October 2014, Monarch announced an order for 30 Boeing 737 MAX-8 aircraft, with options for a further 15 planes. The first of these aircraft is due to be delivered in 2018.
The arrival of these state-of-the-art, fuel efficient aircraft in less than two years’ will enable Monarch to continue to provide passengers with a best in class inflight experience and allow the company to enjoy significant operational cost savings.
Andrew Swaffield, Chief Executive Officer of The Monarch Group, commented: “It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our ATOL licences.
“I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”
Seabury Group LLC and Seabury Securities (UK) Ltd. served as financial advisor with respect to the recapitalisation.
Boatbuoy said:
Monarch statement taken from their Facebook page:
OFFICIAL STATEMENT: Monarch, a leading UK independent airline group, today announces the biggest investment in its 48 year history, a £165 million investment from its majority shareholder, Greybull Capital.
As a result of this investment Monarch has successfully renewed its ATOL licences from the CAA for the next 12 months and funded future growth plans.
In October 2014, Monarch announced an order for 30 Boeing 737 MAX-8 aircraft, with options for a further 15 planes. The first of these aircraft is due to be delivered in 2018.
The arrival of these state-of-the-art, fuel efficient aircraft in less than two years’ will enable Monarch to continue to provide passengers with a best in class inflight experience and allow the company to enjoy significant operational cost savings.
Andrew Swaffield, Chief Executive Officer of The Monarch Group, commented: “It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our ATOL licences.
“I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”
Seabury Group LLC and Seabury Securities (UK) Ltd. served as financial advisor with respect to the recapitalisation.
Good news. Looks like Jet2 jumped the gun a bit launching new bases at BHX & STN.OFFICIAL STATEMENT: Monarch, a leading UK independent airline group, today announces the biggest investment in its 48 year history, a £165 million investment from its majority shareholder, Greybull Capital.
As a result of this investment Monarch has successfully renewed its ATOL licences from the CAA for the next 12 months and funded future growth plans.
In October 2014, Monarch announced an order for 30 Boeing 737 MAX-8 aircraft, with options for a further 15 planes. The first of these aircraft is due to be delivered in 2018.
The arrival of these state-of-the-art, fuel efficient aircraft in less than two years’ will enable Monarch to continue to provide passengers with a best in class inflight experience and allow the company to enjoy significant operational cost savings.
Andrew Swaffield, Chief Executive Officer of The Monarch Group, commented: “It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our ATOL licences.
“I’d like to thank the CAA, our shareholders, partners, loyal customers and the team at Monarch for helping us to achieve this successful outcome. We are now firmly focused on the future as a stronger Monarch.”
Seabury Group LLC and Seabury Securities (UK) Ltd. served as financial advisor with respect to the recapitalisation.
I'm delighted to hear this. My two kids and I had our first trip abroad (Lanzarote) post divorce last February and we flew monarch as part of a James Villas package. Although the flights left 30 mins late both directions, the planes were fine and comfortable (though I guess a 5'7" bloke between a 9 & 11 yo is different to three six footers. Staff were polite and friendly and baggage arrived in one piece. I'm sure my daughters carry on was over sized too but evidently full of her favourite cuddly toys and the check in staff just smiled and let her be....
As per other comments, I wouldn't expect much else for a budget airline, but have flown Jet2 before who were dreadful (open check in gates very last minute so major rush through security etc and planes old and tired)
I'll be honest, I'm still a bit edgy as I'm going to book next Februarys trip early next week, but the Thompson flights are £300 dearer, times are less good for the kids and last time I flew with them, they were no better than any other carrier.
Consensus is that Monarch totally in the clear yes? I do hope so, for my own selfish purposes but like I say, it was a landmark trip for us and will remember it for a long time and would be sad to see them crash and burn
As per other comments, I wouldn't expect much else for a budget airline, but have flown Jet2 before who were dreadful (open check in gates very last minute so major rush through security etc and planes old and tired)
I'll be honest, I'm still a bit edgy as I'm going to book next Februarys trip early next week, but the Thompson flights are £300 dearer, times are less good for the kids and last time I flew with them, they were no better than any other carrier.
Consensus is that Monarch totally in the clear yes? I do hope so, for my own selfish purposes but like I say, it was a landmark trip for us and will remember it for a long time and would be sad to see them crash and burn
TedMaul said:
I'm delighted to hear this. My two kids and I had our first trip abroad (Lanzarote) post divorce last February and we flew monarch as part of a James Villas package. Although the flights left 30 mins late both directions, the planes were fine and comfortable (though I guess a 5'7" bloke between a 9 & 11 yo is different to three six footers. Staff were polite and friendly and baggage arrived in one piece. I'm sure my daughters carry on was over sized too but evidently full of her favourite cuddly toys and the check in staff just smiled and let her be....
As per other comments, I wouldn't expect much else for a budget airline, but have flown Jet2 before who were dreadful (open check in gates very last minute so major rush through security etc and planes old and tired)
I'll be honest, I'm still a bit edgy as I'm going to book next Februarys trip early next week, but the Thompson flights are £300 dearer, times are less good for the kids and last time I flew with them, they were no better than any other carrier.
Consensus is that Monarch totally in the clear yes? I do hope so, for my own selfish purposes but like I say, it was a landmark trip for us and will remember it for a long time and would be sad to see them crash and burn
Monarch is fine. There has been a big cash injection, so don't worry.As per other comments, I wouldn't expect much else for a budget airline, but have flown Jet2 before who were dreadful (open check in gates very last minute so major rush through security etc and planes old and tired)
I'll be honest, I'm still a bit edgy as I'm going to book next Februarys trip early next week, but the Thompson flights are £300 dearer, times are less good for the kids and last time I flew with them, they were no better than any other carrier.
Consensus is that Monarch totally in the clear yes? I do hope so, for my own selfish purposes but like I say, it was a landmark trip for us and will remember it for a long time and would be sad to see them crash and burn
It's the annual renewal for Monarch Holidays. Or at least I hope so, as the airline should have been pulled out of the ATOL scheme by now (I left a year ago and that was high on hhe list of things to do at the time.)
If it is just the Monarch holidays renewal, then it shouldn't have any effect on the airline, but it sounds as if Holidays (what used to be own as Cosmos) is in trouble.
If it is just the Monarch holidays renewal, then it shouldn't have any effect on the airline, but it sounds as if Holidays (what used to be own as Cosmos) is in trouble.
I think the problem may be supplying refunds to the holidays division customers. If there’s no cash, and there isn’t, then that could bring the airline down too.
There is huge over capacity in the European airline market at the moment, and Monarch find them selves between a rock and a hard place with the rise of Norwegian and Jet2, and the established carriers of Easy and Ryan Air.
Fingers crossed for them.
There is huge over capacity in the European airline market at the moment, and Monarch find them selves between a rock and a hard place with the rise of Norwegian and Jet2, and the established carriers of Easy and Ryan Air.
Fingers crossed for them.
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