Monarch the first big Brexit victim

[northernladyuk]

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?

[sal]

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 £.

[xoggoth]

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

[northernladyuk]

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.

[SueEllen]

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.

[simondolan]

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.

[vadhert]

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.

[northernladyuk]

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.

[LondonPM1]

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

[northernladyuk]

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?