Monarch Airlines goes belly up

Unfortunately this is not surprising and nothing new. Exactly one year ago Monarch was in the exact same position, but they were rescued by a £165M investment by their majority shareholder, private equity fund Greybull Capital, at the last minute.

Unless they can secure another lifeline investment, it seems their time has run out.
 
The WSJ reports this morning that the British government is chartering planes to return 110,000 overseas Brits back to the UK. Transport Secretary Chris Grayling described the effort as "the country's biggest peacetime repatriation." Expected to take two weeks, no cost to the pax.
 
tomokc said:
The WSJ reports this morning that the British government is chartering planes to return 110,000 overseas Brits back to the UK. Transport Secretary Chris Grayling described the effort as "the country's biggest peacetime repatriation." Expected to take two weeks, no cost to the pax.
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I've been reading and apparently the UK CAA requires tour operators to hold an ATOL - Air Tour Operator's License. The fees companies pay for this license (a per-booking charge) go to a sort of insurance bank to cover the costs of these tour companies folding - apparently this must be somewhat common in the UK?
 
Yes, I have my ATOL certificate for my trip to Orlando next week. If you book a package you get one, this doesn't cover sovereign airlines.

It is a collective scheme covering holidaymakers in the event the company goes under - meaning you can get home.

Alex.
 
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