Monarch Airlines administration

2/10/2017
Administration

Announced

2/10/2017


Overview:

  • Monarch Airlines has entered into administration.
  • The airline, which is backed by Greybull Capital, ceased operating on October 2 stranding 110,000 passengers with a further 750,000 bookings cancelled.
  • 2,100 Monarch employees are likely to lose their jobs.
  • The UK Civil Aviation authority is sending 700 flights to pick up stranded passengers in an operation costing £60 million and one that is thought to be the largest repatriation ever in UK peacetime.
  • One cause being given is that the airline's Middle East operations were negatively affected by terror attacks in the region.

Sam Duke - Editor

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