Tag Archives: Monarch Airlines

SKYCOP urges Monarch Airlines to cover passenger compensations with slot deal money

Monarch Airlines Airbus A321-231 G-OJEG (msn 1015) LGW (SPA). Image: 929961.

SKYCOP issued this statement concerning Monarch Airlines and IAG:

After the biggest UK airline collapse in years just a month ago, the administrator of the bankrupt Monarch Airlines has struck a deal with IAG over slots at Gatwick Airport, valued by experts at over €68 million. The sale has sparked an outrage among the passengers left stranded or without holidays by the airline collapse, majority of who are yet to receive any flight compensation, which according to SKYCOP should total to a whopping €291 million.

After a favorable decision by the court, the administrator of the bust Monarch Airlines, KPMG, has signed a sales deal with International Airlines Group (IAG), owner of the UKs flag carrier British Airways over airport slots at Gatwick International Airport. According to experts, this deal fulfils the long-standing British Airways’ goal of expanding its presence at one of the major European aviation hubs, however, KPMG has not yet reported of where the estimated €68 million will go as far as handling the debts of Monarch Airlines.

According to Giedrius Kolesnikovas, a partner of a law firm Motieka & Audzevicius, the best practice of bankruptcy administration shows that first and foremost, the administrator should settle the debts with airline employees and the deceived passengers, only then switching to the creditors, suppliers, etc.

“The recently signed contract goes to show that the administrator can and is doing everything in its power to gather some capital. The question is whether it will be used wisely – the recent report on the case showed over €533 million debt to unsecured creditors. However, employees and stranded passengers are yet to be compensated for their moral and physical struggle and have been waiting patiently, even though the size of debt totals to millions of euros. Thus if the money won’t go their way, it might spark a large lawsuit, giving even more of a headache to the administrator,” explains G. Kolesnikovas.

Since Monarch Airlines has gone bankrupt, the flight disruption and the compensation process is handled not in accordance to the renowned EU 261 law. If it was, it would mean each and every of the approx. 860 thousand passengers would be entitled to travel compensation reaching up to €600. Nevertheless, flight compensation company SKYCOP has already contacted the administrator as well as UK’s CAA in order to ensure that the IAG deal money goes straight to compensating the passengers.

“According to the administrator, almost 2000 of Monarch Airlines’ redundant employees are due to receive 100% of the money they are owed, which is great. However, hundreds of thousands of passengers have been seemingly pushed aside after they were rescued from abroad by the UK authorities,” says Marius Stonkus, the CEO of flight claim company SKYCOP. “According to our estimates, if the EU law would apply in this case, the passengers would be receiving over €291 million. This would be at least something positive to try and make up for all of the stress, panic and moral struggle these poor travelers have been through.”

The CEO of SKYCOP has also shared that the company is continuously monitoring the situation and is considering the possibility of filling a group lawsuit representing thousands of passengers still without any compensation for flight cancellations.

Copyright Photo: Monarch Airlines Airbus A321-231 G-OJEG (msn 1015) LGW (SPA). Image: 929961.

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Monarch Airlines shuts down completely

Monarch Airlines (Monarch.co.uk) Airbus A320-214 WL G-ZBAB (msn 5581) PMI (Ton Jochems). Image: 912771.

Monach Airlines (London-Luton) on October 2, 2017 announced it was ceasing all operations and would no longer be doing any further business, stranding thousands of passengers. Monarch started operations on April 5, 1968.

Monarch Airlines tails MAN (Rob Skinkis). Image: 939671.

Above Photo: Rob Skinkis/AirlinersGallery.com

The airline issued this statement:

Monarch has confirmed that the following companies have ceased trading and now entered administration:

  • Monarch Airlines Ltd
  • Monarch Holidays Ltd (ATOL Number 2275)
  • First Aviation Ltd (ATOL Number 4888) previously trading as Monarch Airlines
  • Avro Ltd (ATOL Number 1939)
  • Somewhere2stay Ltd

As a result, we are sorry to inform you that, as of October 2, 2017, all future holidays and flights provided by these companies have been cancelled and are no longer operating.

This is an unprecedented situation and because there are up to 110,000 passengers abroad, the UK Government has asked the CAA to coordinate flights back to the UK for all Monarch customers currently overseas. These new flights will be at no extra cost to you.

If you are already abroad you will find all the information you need about your new flight on this website.

If you are due to depart from a UK airport with Monarch Airlines today or in the future, please do not travel to your UK airport as your flight will not be operating.

 

Customers already abroad

If you are currently abroad and due to return to the UK on or before 15 October 2017 we are making arrangements for you to return home to the UK on a new flight, at the end of your holiday. These new flights will be at no extra cost to you.

We will of course prioritise vulnerable passengers, including unaccompanied minors, and make sure that family groups travel on the same flights.

For further advice and details of your new flight please read I am currently abroad.

If you are currently abroad and due to return to the UK after this date, please read the additional information section.

Customers yet to travel out of the UK

We are sorry to inform you that all future holidays and flights booked with Monarch are now cancelled as of 2 October 2017.

If you are booked on a Monarch Airlines flight, please do not go to your UK airport, as your flight will not be operating.

Further information is available at I have a future booking and have not travellled yet.

Copyright Photo: Monarch Airlines (Monarch.co.uk) Airbus A320-214 WL G-ZBAB (msn 5581) PMI (Ton Jochems). Image: 912771.

Monarch Airlines increases its Boeing 737 MAX 8 order

Boeing and Monarch Airlines have announced an order for 15 additional 737 MAX 8s. Valued at $1.7 billion at current list prices, the order will grow Monarch’s 737 MAX fleet from 30 to 45 airplanes.

The order was previously attributed to unidentified customers on the Boeing Orders & Deliveries website. Monarch has confirmed the 15 options and has agreed with a lessor for them to take 13 aircraft for lease back to Monarch.

Additionally Boeing also announced that the UK carrier has selected Boeing’s Global Fleet Care — formerly known as GoldCare — for its entire 737 MAX fleet.

Through Global Fleet Care’s Integrated Fleet Solution, Boeing will deliver maintenance, engineering and parts required to run Monarch’s MAX operations following the delivery of its first airplane in 2018.

Monarch has also selected Boeing as its flight training provider for its 737 MAX fleet and will be entering into an agreement with Boeing subsidiary AerData for services pertaining to aircraft records management.

Image: Boeing.

Monarch Airlines leases a Boeing 737-800 for the summer

Summer lease for crew familiarization for upcoming 737 MAX 8s

The pictured Pegasus Airlines TC-AAY is seen arriving at the Birmingham base on May 18, 2017 on lease for the summer for crew familiarization before the new Boeing 737 MAXs arrive.

The new type will be operated this summer as G-ZBAV.

Copyright Photo: Monarch Airlines Boeing 737-82R WL TC-AAY (G-ZBAV) (msn 40874) BHX (Ian Bowley). Image: 937834.

Greybull Capital finalizes its £165 million investment in Monarch Airlines

Monarch 737 MAX 8 (11)(Flt)(Boeing)(LR)

Monarch Airlines on October 12, 2016 announced the biggest investment in its 48 year history, a £165 million ($202.4 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 (above), 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.

Image: Boeing.

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Former Monarch Airlines Airbus A330-200 finds a new home

Flynas (Nasair) (Saudi Arabia)(Eaglexpress Air Charter) Airbus A330-243 G-SMAN (9M-AZL) (msn 261) BHX (Ian Bowley). Image: 930023.

Monarch Airlines’ former Airbus A330-243 G-SMAN (msn 261) has found a new home. G-SMAN arrived back at Birmingham from Cambridge after repainting. The airliner will become 9M-AZL
with Eaglexpress Air Charter who will operate it on behalf of flynas.

Copyright Photo: Ian Bowley/AirlinersGallery.com.

Flynas aircraft slide show: AG Airline Slide Show

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Monarch to add five winter routes from London Gatwick and Manchester

Monarch Airlines (London-Luton) will add five winter routes starting in December from London (Gatwick) and Manchester. From LGW, the carrier will add seasonal service to Innsbruck (December 5), Geneva (December 12) and Salzburg (December 19). From MAN, the airline will add Geneva (December 19) and Lyon (December 20) with Airbus A320s and A321s per Airline Route.

Copyright Photo: Terry Wade/AirlinersGallery.com. Airbus A321-231 G-OZBT (msn 3546) completes its final approach to the runway at London (Gatwick).

Monarch Airlines aircraft slide show: AG Airline Slide Show

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