Monarch - Any truth to the Rumours

WearyWoman

Rumours are rife that Monarch are going bust which I hope are not true as I have a package holiday booked with them in October. Monarch themselves have vehemently denied there is another truth but there is no smoke without fire. Lets hope they survive as if we lose hen then its narrows down the chose or airlines who fly to Europe.

RHemmings

There is very often smoke without fire. The term is 'Unfounded Rumours' and our society is awash with them.

I find it rather suspicious that we have a new poster (two posts so far) posting rumours about Monarch airlines.

[Deleted User]

This from Reuters this morning


British airline Monarch Airlines said it was operating normally and was on track to make a profit this year, after questions were asked about its future on social media.

"Our flights are operating as normal, carrying Monarch passengers as scheduled," the airline said in a statement on Monday.

Monarch, owned by investment firm Greybull Capital, said that security concerns, and the devaluation of the pound against the euro resulting from Brexit, had made market conditions tougher, and to help fund its growth, it expected to announce an investment "from its stakeholders" in the coming days.

Despite the difficulties, Monarch said it was on track to post core earnings (EBITDA) of more than 40 million pounds in the year ended Oct. 31, in line with a forecast given last year.

Luton-based Monarch sells holidays and flights primarily to British holidaymakers travelling to destinations such as Spain, Italy and France.

The halting of holidays to Tunisia and Egypt's Sharm al-Sheikh resort, as well as a drop in demand for Turkey due to security concerns meant that customers were booking flights to Israel, mainland Spain and the Canary Islands.

Monarch issued the statement after passengers tweeted the airline over the weekend asking whether speculation that it was going to "go bust" were true.

It replied to customers on its Twitter feed that it was unsure of where the rumours originated.

JAK57

We are booked on a package holiday later this year that involves Monarch flights. We are therefore keeping our fingers crossed that it will go ahead. There is obviously some kind of financial problems here and hopefully the airline/package holiday company can weather the storm and survive. Unfounded rumours can often cause addition problems as new passengers will not book. if all goes haywire then we will lose our holiday and be refunded by ABTA. However with Monarch putting out such a strong denial of bankruptcy or similar, there appears to be a case here for false scaremongering.

Gloomendoom

I just posted this in the other Monarch thread but it might as well go here as well.

Official statement from Monarch...

26th September, 2016

Over the weekend, there has been negative speculation about Monarch’s financial health.

Monarch is trading well and is expected to achieve an EBITDA of over £40m at the end of this financial year (October 2016). This is despite a difficult period for the holiday industry due to terrorist incidents, Brexit and the resulting devaluation of sterling.

Our flights and holidays are operating as normal, carrying Monarch customers as scheduled.

To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days.

Gloomendoom

RHemmings wrote: »

I find it rather suspicious that we have a new poster (two posts so far) posting rumours about Monarch airlines.

Me too.

It's probably Michael O'Leary.

Pollycat

WearyWoman wrote: »

Rumours are rife that Monarch are going bust which I hope are not true as I have a package holiday booked with them in October. Monarch themselves have vehemently denied there is another truth but there is no smoke without fire. Lets hope they survive as if we lose hen then its narrows down the chose or airlines who fly to Europe.

Really? :rotfl:

There is already a thread running about this on this very board.
I posted links to both BBC News & Sky News from Monarch denying the rumours before 9am yesterday morning.

If you don't believe those statements and really do believe there's no smoke without fire, I doubt anyone on here can allay your fears that the rumours aren't true.

ibizafan_2

Well, we've booked flights to Venice with Monarch from BHX for next September, so hopefully there are no problems. These rumours keep surfacing from time to time.

dickydonkin

RHemmings wrote: »

There is very often smoke without fire. The term is 'Unfounded Rumours' and our society is awash with them.

I find it rather suspicious that we have a new poster (two posts so far) posting rumours about Monarch airlines.

So anything a new poster submits to this board is irrelevant? Just to remember we were first posters at one time - what is suspicious about it? It might be rumours - it may have an element of truth about it but time will tell - but I see no reason to shoot the messenger.

Just to redress the balance, haven't we heard similar 'rumours' from another travel company that no longer exists?

https://www.thesun.co.uk/news/1526462/lowcostholidays-staff-claim-they-were-told-it-was-just-business-as-usual-days-before-firm-collapsed/

20aday

I sincerely hope Monarch don't go under.

Granted it's been some time since I've flown with them (2009) but I enjoyed flying with them and would consider them for a package holiday again in the future.

silvercar

http://www.express.co.uk/finance/personalfinance/714980/Monarch-licence-must-be-renewed-airline-sell-atol-holidays-watchdog