Over 300,000 bookings for flights have been cancelled and thousands of jobs lost as Monarch airlines go into administration.
The Civil Aviation Authority (CAA) has been ordered by the Government to send over 30 aircraft to bring back stranded passengers over the next few weeks.
Currently, Monarch employs over 2,500 staff and reported losses of £291 million in 2016. Monarch were the UK’s fifth biggest airline, and are now the country’s largest ever to collapse. They were placed in administration at 04:00 BST.
Some 750,000 employees were sent text messages to inform them that their flights had been cancelled. The company was founded in 1968, with headquarters at London Luton airport.
Andrew Swaffield, Monarch’s chief executive, said the ‘root cause’ of revenue reduction was frequent terror attacks and an attempted coup in Turkey. He said:
“We are working with the joint administrators and the CAA (Civil Aviation Authority) to do everything we possibly can to help minimise disruption where we can, but are under no illusion as to the problems this will cause.”
“And many suppliers will suffer hugely as a result of our insolvency – for which I am equally sorry.”
Mr Swaffield addressed the thousands of employees, who have now lost their jobs, telling them to “all hold your heads up high and be proud of what you achieved at Monarch”.
He added: “It has been a company that has cared for its customers and which has been like a family for many people for five decades.”
“I cannot tell you how much I wanted to avoid this outcome and how truly sorry I am.”
Customers who have been affected by the company’s collapse have been urged to check monarch.caa.co.uk for advice and information on flights back to the UK.
The website will also provide information for passengers who have future bookings but haven’t yet left the UK. Government officials have informed passengers to expect disruptions and severe delays as they work to ensure there are enough flights to repatriate customers.
