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  1. #1
    Forum Regular สมาชิกประจำ
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    Default Monarch Airlines

    Not related i know to Thailand but it looks like Monarch Airlines will go bust within the
    next 24 hours.

  2. #2
    Premium Member Gary & Nok's Avatar
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    Supposedly a Twitter hoax. It's being denied by Monarch.

    Monarch responded: 'We do! These rumours are absolutely not true and we are operating as normal.'
    I'm ONE of the 52%

  3. #3
    Forum Regular สมาชิกประจำ
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    For the benefit of those who don't know how these things work, in order to sell a package holiday (flight+accommodation+transfers) in the UK the company concerned is required to hold an Air Travel Organisers Licence (ATOL). There is a substantial fee (proportionate to the share of the market the company holds) payable each time a licence is issued or renewed and this goes into a fund administered by the UK CAA. The fund is used to pay for repatriation of those abroad should an ATOL holder collapse financially, and reimbursement of those yet to travel.
    The Monarch group is an ATOL holder and needs to be in order for Monarch Holidays to operate, and its licence renewal date is the end of this month.
    Up to last night the CAA clearly believed there was a high possibility that Monarch would be unable to meet the payment deadline, which explains the contingency plans and the aircraft positioned in from all over the place to start repatriation this morning.
    There's a history of Monarch brinkmanship on ATOL renewal, as mentioned up-thread, two years ago they requested and were granted a three-week extension on their ATOL in order to complete the sale of the company and subsequent injection of cash. We will see whether an extension is granted this year, or if the fee is forthcoming this week, or they decide to continue to operate the airline but without the holiday division, or if a sale of all or part of the business is imminent.

  4. #4
    Premium Member Gary & Nok's Avatar
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    Your quote has not worked BH.
    Quote Originally Posted by Brownhill View Post
    For the benefit of those who don't know how these things work, in order to sell a package holiday (flight+accommodation+transfers) in the UK the company concerned is required to hold an Air Travel Organisers Licence (ATOL). There is a substantial fee (proportionate to the share of the market the company holds) payable each time a licence is issued or renewed and this goes into a fund administered by the UK CAA. The fund is used to pay for repatriation of those abroad should an ATOL holder collapse financially, and reimbursement of those yet to travel. The Monarch group is an ATOL holder and needs to be in order for Monarch Holidays to operate, and its licence renewal date is the end of this month. Up to last night the CAA clearly believed there was a high possibility that Monarch would be unable to meet the payment deadline, which explains the contingency plans and the aircraft positioned in from all over the place to start repatriation this morning. There's a history of Monarch brinkmanship on ATOL renewal, as mentioned up-thread, two years ago they requested and were granted a three-week extension on their ATOL in order to complete the sale of the company and subsequent injection of cash. We will see whether an extension is granted this year, or if the fee is forthcoming this week, or they decide to continue to operate the airline but without the holiday division, or if a sale of all or part of the business is imminent.
    I'm ONE of the 52%

  5. #5
    Forum Regular สมาชิกประจำ
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    Monarch have been granted an ATOL licence until mid October when hopefully all funds will be in place for them to continue. Lets wait and see ?

  6. #6
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    Here we go again with the CAA positioning some Qatar A320 planes in UK to repatriate stranded UK holidaymakers. Looks like the end game for Monarch with their collapse expected tomorrow.

  7. #7
    Premium Member sisaket's Avatar
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    Sad for people on holiday and being stranded ...
    I thought I read somewhere about Air Berlin up for sale or in trouble and our friend mr Ryanair WAS after buying Alitalia , that was until their planning went down the tubes , now Italian ministers have called into question their ability to run the airline ... however the new Ryanair sale looks a bargin £5 a seat and £10 for the seat to be inside the aircraft .... extras include 3 ounces of luggage £35 ...
    bangkok mags

  8. #8
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    Well it happened and our holiday next week to Portugal is no more, still I have managed to book a last minute with Thomson to the Costa Dorada only a day adrift but with a long trek from Yorkshire down to Luton. Cancelled pre booked car hire and car parking at Leeds Bradford all sympathetic and the two insurance companies swopped like for like. Just got to wait to claim holiday cost from ATOL eventually. Downside is all flights have increased in cost some quadrupled as other carriers seek to take advantage. Still the wife is happy as their are far more Primarks where we are now heading

  9. #9

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