Monarch - Any truth to the Rumours

vivatifosi

A couple of new articles on this:

https://www.theguardian.com/business/2016/sep/29/monarch-scrambles-for-time-ahead-of-flying-licence-deadline

http://www.manchestereveningnews.co.uk/news/greater-manchester-news/monarch-still-talks-over-licensing-11958432

hollie.weimeraner

And another today

https://www.theguardian.com/business/2016/sep/30/monarch-airlines-crisis-talks-extend-flying-licence-atol-package-holidays

SW17

Monarch's ATOL has been extended until 12 October 2016 to give them time to secure the necessary funds to satisfy the CAA.

Gloomendoom

Monarch bounces back with giant plane order

Monarch Airlines is close to unveiling a bumper fleet order of 45 new Boeing planes backed by a massive bank financing package.

Telegraph

Westin

Is this not just rehashed news of a Boeing fleet replacement programme that was announced two years ago?

http://blog.monarch.co.uk/monarch-finalises-order-for-boeing-737-max-8s/

Gloomendoom

Westin wrote: »

Is this not just rehashed news of a Boeing fleet replacement programme that was announced two years ago?

http://blog.monarch.co.uk/monarch-finalises-order-for-boeing-737-max-8s/

I must admit that it did cross my mind. A neighbour is a senior Monarch pilot and I vaguely remember him telling me at least a year ago that they were planning to buy a fleet of new 737s. He doesn't like them for some reason.

christaitfife

I think this is all good news. If they have the finance for a Boeing order, all be it through bank financing, there should be enough finance there to merit the CAA to issue a full licence.

martindow

I see the regurgitation of the plane buying announcement as something of a diversion. It gives an impression of having lots of cash or finance in place. This is not borne out by the scramble to get money to renew their licence.

NicksTheMan

I am going on a Monarch package holiday later this week. I have just received today a revised ATOL certificate telling me i must take it with me otherwise I will not be covered.. I will get to my hotel in Spain OK as my departure date falls within the extended time frame. However coming home is another issue as the date is after the 12th October. Not sure who will get in touch if Monarch fails. Hopefully there will be an update on their finance rescue plans again later this week. I might be stuck in Spain. I am Not sure if that is good or bad news!!

Westin

martindow wrote: »

I see the regurgitation of the plane buying announcement as something of a diversion. It gives an impression of having lots of cash or finance in place. This is not borne out by the scramble to get money to renew their licence.

I tend to agree.

I wish them well and hope dearly that they survive as they are a great airline with a team of excellent staff but have to agree that this seems like a spin story.

Given that their current fleet seems to all be leased I can't help wondering if whilst a (re-hashed 2014) order for switching from an Airbus to Boeing fleet will be on the same basis. Therefore not actually owning or spending their own money on new aircraft.

https://www.planespotters.net/airline/Monarch-Airlines