Whats going on with Monarch ?

Whats going on with Monarch ?

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Discussion

wjwren

4,484 posts

135 months

Wednesday 11th October 2017
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Interesting article in the FT today.

https://www.ft.com/content/a2ee882c-adb9-11e7-beba...

Eric Mc

122,036 posts

265 months

Wednesday 11th October 2017
quotequote all
You might have to paraphrase it for us as it's behind a paywall.

NickCQ

5,392 posts

96 months

Wednesday 11th October 2017
quotequote all
Eric Mc said:
You might have to paraphrase it for us as it's behind a paywall.

Eric Mc

122,036 posts

265 months

Wednesday 11th October 2017
quotequote all
Investment outfits are only interested in getting out with a surplus. Running a business, providing a service, providing employment etc are WAY down their list of priorities.

NickCQ

5,392 posts

96 months

Wednesday 11th October 2017
quotequote all
Eric Mc said:
Investment outfits are only interested in getting out with a surplus. Running a business, providing a service, providing employment etc are WAY down their list of priorities.
Although in this case, both have happened (for a number of years at least).

surveyor

17,828 posts

184 months

Wednesday 11th October 2017
quotequote all
I really feel for the staff. Know of a Captain there (just one of many, but he's participated actively in a enthusiast group) who has held his position for ten years. No doubt it was a well paid job.

He will I would imagine pick up a new job fairly easily, but will end up at the bottom of the seniority list, as a First Office. Huge instant pay-cut, and potentially from choosing own hours, to working the dog ends that nobody else wants to do. Will take a lot of years to get back where he was.

MarkwG

4,849 posts

189 months

Thursday 12th October 2017
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I have great memories of Monarch, from my first look around a 1-11 in the '70s, tucked in the back of their hangar, bantering with the crews, fun holiday trips, & the many friends who've worked for them over the years. Whilst it does seem unfair that the plug has been pulled after so long, & that the last owners may walk away relatively unscathed, there's also the argument that keeping an uneconomic business operating by pumping it with unrealistic finances actually causes damage to those other business's that are operating more efficiently - over capacity in any market isn't healthy in the long term. It's really tough for the individuals but the wider industry should be more secure as a result.

surveyor

17,828 posts

184 months

Friday 13th October 2017
quotequote all
This is well worth a listen.

http://www.bbc.co.uk/programmes/b097c99r