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Monarch refuse to pay out

Just had a reply from monarch airlines to decline compensation
due to a faulty exhaust censor on number 1 engine making the plane unserviceable and not fit to fly and this has been classed as extraordinary circumstances beyond the control of monarch airlines, who were able to notify some passengers by text message the previous day. What is extraordinary about a fault on a plane known about the previous day, or is it extraordinary that they didn't have a spare plane ??????
can any one help!
our flight should have been from Palma Mallorca, 26th August at 9.45pm ZB535

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