Monarch Airlines

About Monarch Airlines

Monarch Airlines collapsed on October 2, 2017. Monarch was the fifth largest airline in the UK with 100 aircraft and 3,300 employees. The airline had lost money for years due to competition from low cost carriers and terrorism concerns in Mediterranean destinations. Greybull Capital, the owner, invested 165 million before giving up. The Civil Aviation Authority organized the largest UK airline repatriation at the time, bringing 110,000 passengers home. The operation cost 60 million. Monarchs engineering division and slots were sold to raise funds. The pension fund had a 350 million deficit. The collapse ended Monarchs 49 years of operations. The failure contributed to concerns about the financial health of UK airlines and the adequacy of consumer protection.