• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Monarch the first big Brexit victim

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #21
    Originally posted by xoggoth View Post
    Eeeeeh! Looks like me holiday to Spain on 24th is fecked.

    PS It does seem a bit odd they let it fold during the Ryanair crisis, surely Monarch could have had a role there?
    Flight only? Got insurance? Paid by credit card?

    Comment


      #22
      Originally posted by Stevie Wonder Boy View Post
      Salaries would have been paid in pounds, fuel is the other major cost is usually traded dollars, so yes it could have had an impact if they didn't hedge oil, like most airlines do. Though the cost of Oil is completely through the floor as is Jet A1. So not likely.
      If their salaries are like BA - i.e. minimum wage, they won't account for much of the expenditure.

      Airport/baggage handling fees account for a large portion of the expense and they are not in £. Also likely aircraft spare parts aren't in £.

      Comment


        #23
        So it's all due to Brexit? Interesting that Monarch is the third major European airline to collapse since August and analysts say that more losers could emerge in the coming months as smaller, weaker players come under pressure.

        European airlines: Why do they keep going bust? - Oct. 2, 2017
        bloggoth

        If everything isn't black and white, I say, 'Why the hell not?'
        John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

        Comment


          #24
          Originally posted by xoggoth View Post
          So it's all due to Brexit? Interesting that Monarch is the third major European airline to collapse since August and analysts say that more losers could emerge in the coming months as smaller, weaker players come under pressure.

          European airlines: Why do they keep going bust? - Oct. 2, 2017
          No. But it looks as if Brexit was a contributing factor. They were probably doomed anyway.

          Comment


            #25
            Originally posted by northernladyuk View Post
            No. But it looks as if Brexit was a contributing factor. They were probably doomed anyway.
            They were doomed.

            Everyone in the last 12 years who have put money into them haven't made much if anything at all. The final straw was the terrorist threats in the holiday destinations in the Middle East which means they couldn't fly there.
            "You’re just a bad memory who doesn’t know when to go away" JR

            Comment


              #26
              Originally posted by SueEllen View Post
              They were doomed.

              Everyone in the last 12 years who have put money into them haven't made much if anything at all. The final straw was the terrorist threats in the holiday destinations in the Middle East which means they couldn't fly there.
              Poor management, very poor strategy and way too much debt. The “reasons” officially given are simply excuses for the above.
              P.S. What Spreadsheet? Revolutionising the contracting market again.

              Comment


                #27
                Another Brexit doom porn thread.

                Monarch have been loosing money and market share for years. With the £ dropping against the Euro over the last 15 years and an unsustainable business model competing against the budget airlines, The result was inevitable.

                But yeah, blame it on Brexit just like the Vegas shooting.

                Polishing a turd near you!!

                Comment


                  #28
                  Originally posted by vadhert View Post
                  Another Brexit doom porn thread.

                  Monarch have been loosing money and market share for years. With the £ dropping against the Euro over the last 15 years and an unsustainable business model competing against the budget airlines, The result was inevitable.

                  But yeah, blame it on Brexit just like the Vegas shooting.

                  Comment


                    #29
                    I use easyjet twice a month and I am astonished at how cheap flights have become these days.

                    £70 return from luton to Copenhagen or Luton to zurich is insane given that the landing costs are unusually high in both airports and more importantly the times suit commuters really well

                    7AM flight out of luton - 9PM flight on Thursday

                    If Monarch are in trouble you can bet easyjet and ryanair are feeling the pinch as well

                    Comment


                      #30
                      Originally posted by 1 Jack Kada View Post
                      I use easyjet twice a month and I am astonished at how cheap flights have become these days.

                      £70 return from luton to Copenhagen or Luton to zurich is insane given that the landing costs are unusually high in both airports and more importantly the times suit commuters really well

                      7AM flight out of luton - 9PM flight on Thursday

                      If Monarch are in trouble you can bet easyjet and ryanair are feeling the pinch as well
                      Presumably they have to pay you to go to Luton?

                      Comment

                      Working...
                      X