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Monarch Airlines (London-Luton) reported a loss of £69.9 million ($106.7 million) for the six months ending on April 30. This is an improvement of a loss of £110.6 million ($168.8 million) for the same half year period in 2014.
The airline issued this financial statement:
Monarch, the European leisure airline group, has reported a half year loss of £69.9 million, down from £110.6 million for the same period last year. Winter losses, for the November to April period, were down by a bigger than forecast £40 million.
Monarch has completed the final phase of the restructuring program begun last year and has created a revitalized, entirely scheduled network of destinations for discerning leisure customers. The Monarch turnaround is firmly on track.
Monarch has undertaken a range of measures to remove £200 million in annual costs from the business, including restructuring of its network and fleet, improved revenue management and modernised working practices. £30 million of the reduction in winter losses is due to the success of this self-help turn around program, with the remaining £10 million due to additional savings in fuel costs.
Overall, this has resulted in a strong first half performance. The group is now focused on building on the heritage of the Monarch brand and creating a truly customer centric organisation.
Chief Executive Officer, Andrew Swaffield said; “We remain positive that the changes we have made to the structure of the group, the network and our cost base have set us in good stead to achieve the turnaround. It is thanks to the hard work of all 2,800 colleagues employed directly by the company, both on the ground and in the air, that we are focused on service and safety whilst maintaining a low cost base. These elements will help Monarch to build a sustainably profitable business.”
Chief Financial Officer, Barry Nightingale said; “Our winter performance was better than forecasted with substantially reduced losses.
“We have seen stable booking trends throughout the last 6 months and have seen good summer sales in key months which will help us to deliver against a challenging plan.
“Improved revenue management has played a key part in the turnaround results but, additionally we have put a lot of work into segmenting our customer groups and have been able to take a customer centric approach to reshape our network around increased frequencies to our most popular destinations. We have also added new scheduled routes taken from our portfolio of destinations previously served as charter routes to provide a better service and increased flexibility to customers.”
Earlier this year, Monarch launched a group wide employee bonus scheme to reward the commitment and hard work of all employees. Key performance indicators are aligned to company performance and the punctuality of the airline.
Andrew Swaffield said; “It’s clear that people who work for Monarch genuinely care about the company and our customers. That is directly reflected in the great service and natural warmth which comes as standard.
“The bonus scheme is designed to ensure that we focus on the right things such as company performance and airline punctuality (OTP). This year we have already improved, and our average OTP figure for the first six months is 83.2%, compared to 80% for the same period last year.”
Having recently celebrated 47 years of flying under the Monarch name, work has now begun to transition the airline to its new fleet of Boeing 737 MAX 8 aircraft (below) which will start coming into service in April 2018.
The airline confirmed this order in autumn 2014 to replace its current Airbus fleet by 2020. Each of the thirty new Boeing 737 MAX8 aircraft will deliver further savings on future fuel costs and contribute to the airline’s sustainable low cost base.
Alongside the scheduled airline operations, Monarch’s in-house engineering division has enjoyed growth in third party business and has opened a new maintenance base in Copenhagen. Monarch Aircraft Engineering was recently shortlisted for Maintenance, Repair & Overhaul company of the Year at this years’ industry Awards. The priority for this valuable group asset is to improve its efficiency and make a bigger contribution in the years to come.
Monarch’s tour operating business has seen strong year-on-year growth in on-line bookings, offsetting some category weakness in high street sales. Key markets in the Canaries and mainland Spain have grown in line with the airline’s scheduled operations to key city destinations. Packages to Egypt are seeing some recovery after an unsteady past two years. Greece continues to perform well, despite economic uncertainty and aggressive competition.
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Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Monarch will replace its current Airbus fleet with new Boeing 737 MAX aircraft by 2020. Airbus A321-231 G-OZBE (msn 1707) arrives in Las Palmas.
Jet2 (Jet2.com) and Jet2holidays (Leeds-Bradford) has added two new routes to its ever expanding summer of 2016 program, announcing new routes to Girona (Costa Brava), Spain from Glasgow, Manchester and Newcastle and Naples, Italy from Edinburgh and Manchester.
Assistant Editor Oliver Wilcock reporting from Manchester.
Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Jet2 operates under two brands, Jet2.com and Jet2holidays. Boeing 737-86N G-GDFS (msn 32243) prepares to land at Tenerife Sur in the Canary Islands.
Lufthansa (Frankfurt) according to TASS, will drop three Russian destinations from Frankfurt as the Russian routes have become unprofitable. Moscow (Vnukovo) will be dropped on August 31, Nizhny Novgorod on September 7 and Samara on September 6.
Read the full report from LNR Media quoting TASS: CLICK HERE
Copyright Photo: AirlinersGallery.com. Airbus A319-114 D-ALD (msn 623) taxies at London (Heathrow).
Skymark Airlines‘ (Tokyo) biggest creditor Intrepid, which is opposing ANA’s (Tokyo) involvement in the Skymark reorganization plan, also submitted a rival reorganization plan on May 29. The plan states Integral would be the primary sponsor, but it would select an alternative airline partner other than ANA. The U.S.-based leasing firm is already talking with Delta Air Lines (Atlanta) according to ZipanguFlyer.
Read the full report from our partner ZipanguFlyer: CLICK HERE
Copyright Photo: Akira Uekawa/AirlinersGallery.com. Boeing 737-8Q8 JA737T (msn 35290) approaches the runway at Tokyo (Haneda).
Vueling Airlines (Barcelona) will operate more than 60,000 flights between June and September, offering more than 11 million seats, a 13% percent increase over the same period in 2014.
Vueling now operates on 366 routes with a fleet of 100 aircraft and 3,000 flight personnel.
The fast-growing airline issued this outline for its summer schedule:
Vueling, the busiest airline at its Barcelona base, will make more than 60,000 flights and 366 routes in the summer season beginning on 15 June, its eleventh. It will offer a total of more than 11 million seats, 13% more than in 2014.
In the busy summer travel season the company will take off and land more than 700 times each day –an average of once every two minutes– at the 155 airports it serves.
Vueling’s fleet numbers some 100 Airbus A319s, A320s, and A321s which will log more than 62 million kilometers in Europe, the Middle East, and Africa this summer, with nearly 3,000 people making up its cockpit and cabin crews.
Photo Above: Vueling Airlines. The cockpit of Airbus A320-214 EC-JTR (msn 2798).
To meet the summer demand, Vueling will field flights crews totalling nearly 3,000 people, including 979 pilots and 1,974 cabin staff.
Vueling’s newest aircraft feature wingtip “sharklets” (above) and other features enhancing fuel efficiency and environmental protection.
The new Airbus A319s, A320s and A321s have been joining the fleet gradually since January, and are being named in the airline’s inimitable style: You’re the Vueling that I Want (EC-MEL); Keep Calm and Vueling (EC-MEQ); Vueling my best dream (EC-MER); Leonardo da Vueling (EC-MES); Vueling Topic (EC-MFK); Ich Bin Vuelinger (EC-MFL); Are you Vueling to me? (EC-MFM); In Vueling We Trust (EC-MFN); and #BuenVueling (EC-MGE).
366 Routes, from Cape Verde to Moscow
Vueling will operate on a total of 366 routes to 155 cities in Europe, Africa, and the Middle East. New destinations this summer include Saragossa in Spain; Ancona and Trieste in Italy; the Algarve in Portugal; Manchester, Belfast and Birmingham in the UK; Rabat in Morocco; Accra in Ghana; and Moscow-Sheremetyevo in Russia.
Also noteworthy are the airline’s new direct routes to the islands of Lampedusa in Italy; Madeira in Portugal; Yerba in Tunisia; Sal in Cape Verde; and Corfu, Lemnos, Lesbos, Samos, Cephalonia and Zakynthos in Greece. Vueling flies to more islands than any other airline, reaching no fewer than 35 by direct flights from its hubs in Barcelona-El Prat and Rome-Fiumicino.
Copyright Photo: Ariel Shocron/AirlinersGallery.com. Airbus A320-232 EC-LZM (msn 5877) with Sharklets and painted in the special Coruna livery departs from Madrid.