Tag: Monarch Airlines

UK Court Restores Monarch Slots to Administrators

Reading Time: 2 minutes The administrators of insolvent UK leisure carrier Monarch Airlines have won their legal appeal to keep possession of some of the airport slots previously held by the carrier. The ruling by the UK Court of Appeal in London overturns a lower court’s ruling earlier this month that Monarch’s slots should be returned to the slots […]

Monarch Loses Battle to Retain Valuable Slots

Reading Time: < 1 minute Having ceased trading last month, Monarch Airlines (MAL) is in the process of ‘losing’ its most valuable asset, runway slots, which its administrators had hoped to exchange with other carriers in a bid to raise cash for its creditors. The problem lies in the fact that Monarch does not own the take-off and landing slots, […]

Boeing Provided Monarch With $130m Bailout In 2016

Reading Time: < 1 minute Boeing  reportedly injected GBP100 million (USD131 million) into Monarch Airlines  last year as part of a bailout that briefly kept the airline operational, reports The Financial Times. However, the cash payments, which were paid over a period of six months from October 2016 into Monarch’s holding company, the Jersey-based Petrol Jersey Limited, weren’t enough to […]

Monarch Aircraft Engineering Becomes Standalone Company

Reading Time: < 1 minute Monarch Aircraft Engineering Limited (MAEL) has announced its continuation as a standalone business, operating as normal, as Monarch Airlines and Monarch Tour Group enter Administration. MAEL employs over 730 staff at six locations in the UK and four overseas. The company has hangars at Birmingham and London Luton airports, and line maintenance stations at London […]

Monarch Airlines Goes Bankrupt Leaving 110,000 People Stranded

Reading Time: 2 minutes British leisure carrier Monarch Airlines ceased operations with immediate effect, leaving 110,000 customers stranded overseas and about 300,000 future bookings canceled. “We’re sorry to announce that Monarch has suspended flights and holidays,” the airline said on Twitter. Tough competition in the sector has been putting pressure on weaker European carriers and driving consolidation, with airberlin […]

After Major Investment Monarch Set to Buy 15 New Boeing Aeroplanes

Reading Time: < 1 minute Monarch Airlines is close to revealing a giant order for new Boeing aeroplanes after a major investment from shareholders, according to reports. An extra 15 aircraft, added to the 30 it already ordered in 2014, would put the airline on a secure footing for the foreseeable future. It comes after the airline said on Friday […]