Monarch Airlines on its way out?

[Martin43]

Lots and lots of rumours circulating on social media and other aviation websites that Monarch Airlines is about to go bust imminently. Apparently there are quite a few United 744's and possibly Air Transat and Omni Air Internatiol aircraft making there way to several Mediterranean airports in anticipation of this happening.

All of this on the back of an order for 30 Boeing 737 Max 8's.

Fingers crossed for all that this isn't true or a way out can be found.

[Dan_1981]

Dunno if related at all but a mate was an engineer at Manchester - made redundant a couple of months ago along with a fair few others

[ecsrobin]

http://www.independent.co.uk/travel/news-and-advic...

[RammyMP]

They were going bust a few years ago and that never happened

[Liszt]

Just been on Today programme. Looks like they are seeking some new financing after being hit by the loss of people traveling to Turkey and Egypt

[GT03ROB]

Well just looking at Flight radar they have 8 flights up at present all just heading out from the UK

[Rosscow]

Interesting. Mum and Dad currently in Spain and have their return flight booked for Saturday with Monarch!

Bookmarked.

[Puggit]

Official Statement: http://blog.monarch.co.uk/speculation-about-monarc...

Monarch said:

26th September, 2016

Over the weekend, there has been negative speculation about Monarch’s financial health.

Monarch is trading well and is expected to achieve an EBITDA of over £40m at the end of this financial year (October 2016). This is despite a difficult period for the holiday industry due to terrorist incidents, Brexit and the resulting devaluation of sterling.

Our flights are operating as normal, carrying Monarch customers as scheduled.

To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days.

[Dog Star]

I hope not; I'm off to Gibraltar with work on Monday. And I like going to work in Gibraltar.



Fingers crossed.

[Jockman]

Hope not. I'm flying with them to Turkey next June.

[CaptainSensib1e]

Surely once this kind of announcement comes out the writing is on the wall. No one is going to book with an airline that might be about to go under, and woithout any bookings they will go under.

[caterhamboy]

Booked flights to Madeira in October half term for me and the family with them,

haven't booked the accommodation yet, unsure if i should now or not.

Also paid on debit card so not looking good...

[ClaphamGT3]

As I understand it, the issue was that they breached CAA regulations on working capital levels and are securing additional facilities from their VC partner to cover the shortfall.

[Jockman]

caterhamboy said:

Also paid on debit card so not looking good...

Me too, for next June.

Chargeback is your friend

https://www.theguardian.com/money/2012/jan/20/sect...

[miniman]

One thing's for sure - social media will hang you out to dry and move on to the next victim before you can say, "hang on, we're fine actually!".

[caterhamboy]

Flights cost £340 for three of us, tempted to ditch them as not willing to waste money on booking a hotel and not being able to get there, can't see any other flights on the dates to Madeira.
Looks like the canaries now!!

[Super Slo Mo]

TAP fly there you just have to go via Lisbon.

[FlipFlopGriff]

Got 2 flights booked with them - Dec and April 17. Paid by Paypal so although it goes on the credit card not sure I'm covered for compensation by using a 3rd party, ie Paypal. Use Paypal as there are no extra charges.
Just checked and it isn't covered under section 75 but you may get compensation from Paypal.
http://www.moneysavingexpert.com/credit-cards/PayP...
FFG

Edited by FlipFlopGriff on Tuesday 27th September 09:48

[theguvernor15]

Flying with them a fortnight on Tuesday, really hope they aren't going under!!

[Jockman]

Just noted the ATOL Certificate attached to my flights for next June. Phew....