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Monarch in administration
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 Stuk  Top half 09 Oct 17 4.37pm |
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Originally posted by Dave58
Both Alitalia and air Berlin went into administration some while ago, and yet are still flying thanks to government bailouts. Yet ours let's it close? Sorry for all the staff that will lose jobs. They got a "loan" from the government to keep them going, until the German government can try and force a way to make Lufthansa buy them. Which seems to verge on the edge of legality. Both of them were backed by Etihad until recently, and if they don't see them as profitable they probably aren't. You wouldn't bail out a failing small business, so neither should you bail out a failing large one. I hope they go and Germany loses their "loan".
Optimistic as ever |
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| Stuk Top half 10 Oct 17 2.17pm |
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Greybull Capital, the equity company that owned Monarch, are somehow a preferential creditor to the tune of approx £150m due to a loan they gave it. How in the f***ing f*** is that allowed?
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| CambridgeEagle Sydenham 10 Oct 17 2.42pm |
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Originally posted by Stuk
Greybull Capital, the equity company that owned Monarch, are somehow a preferential creditor to the tune of approx £150m due to a loan they gave it. How in the f***ing f*** is that allowed? That's generally how private equity works.
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| Midlands Eagle 10 Oct 17 4.01pm |
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Originally posted by CambridgeEagle
That's generally how private equity works. It's also what the gang of four did when originally investing loan capital into CPFC 2010 Ltd
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pefwin  Where you have to have an English ... 10 Oct 17 5.50pm |
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It is also what lenders like Funding Circle do; Standard industry practice.
"Everything is air-droppable at least once." "When the going gets tough, the tough call for close air support." |
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aquickgame2  Beni = summer,Caribbean = winter 12 Oct 17 7.58am |
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I always liked Monarch,nice staff,planes,reliability,not always the cheapest,sometimes were,sometimes not Question. With 110,000 people in the next 2 weeks being flown back from wherever ( this is not even peak time for holidays,flights )shows they have plenty of business. Where and when did it all go wrong ?
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| chris123 hove actually 12 Oct 17 8.52am |
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Originally posted by aquickgame2
I always liked Monarch,nice staff,planes,reliability,not always the cheapest,sometimes were,sometimes not Question. With 110,000 people in the next 2 weeks being flown back from wherever ( this is not even peak time for holidays,flights )shows they have plenty of business. Where and when did it all go wrong ? Flying routes that lost appeal like Morocco and Egypt and struggled to compete with Easyjet and Ryan Air - had to be bailed out last year and the PE firm behind Monarch wasn't prepared to put more money in.
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| Midlands Eagle 12 Oct 17 10.21am |
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Originally posted by chris123
Flying routes that lost appeal like Morocco and Egypt and struggled to compete with Easyjet and Ryan Air Their prices were often considerably more than their competitors. We were looking at flying to Malaga for the February 2018 half term and on 1st Sept Monarch quoted £700 for three flights from Birmingham whereas Jet2 quoted £600 for three flights from East Midlands but Easyjet only wanted £300 for three flights from Gatwick which is what I eventually booked.
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| chris123 hove actually 12 Oct 17 10.32am |
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Originally posted by Midlands Eagle
Their prices were often considerably more than their competitors. We were looking at flying to Malaga for the February 2018 half term and on 1st Sept Monarch quoted £700 for three flights from Birmingham whereas Jet2 quoted £600 for three flights from East Midlands but Easyjet only wanted £300 for three flights from Gatwick which is what I eventually booked. I worked for most of 2015 in Vienna and when my kids came out to see me they always flew Easyjet as it was so much cheaper - at times about a third of what the company was paying for my BA flights.
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| aquickgame2 Beni = summer,Caribbean = winter 12 Oct 17 4.20pm |
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Originally posted by chris123
Flying routes that lost appeal like Morocco and Egypt and struggled to compete with Easyjet and Ryan Air - had to be bailed out last year and the PE firm behind Monarch wasn't prepared to put more money in.
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| alaneagle1 Dunstable,Bedfordshire.England 12 Oct 17 4.29pm |
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Originally posted by Midlands Eagle
Their prices were often considerably more than their competitors. We were looking at flying to Malaga for the February 2018 half term and on 1st Sept Monarch quoted £700 for three flights from Birmingham whereas Jet2 quoted £600 for three flights from East Midlands but Easyjet only wanted £300 for three flights from Gatwick which is what I eventually booked. ME you mentioned that before,were there no flights from Luton.?
Palace 13th 2017/18. |
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| Midlands Eagle 12 Oct 17 5.14pm |
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Originally posted by alaneagle1
ME you mentioned that before,were there no flights from Luton.? I must admit that I always forget to look at Luton. I've just checked and there are Easyjet flights but they are a bit more expensive than Gatwick but still nowhere near as expensive as Midlands flights. I must admit that I don't understand flight pricing as a couple of years ago it was cheaper for me to catch a flight from East Midlands to Belfast then another from Belfast to Alicante than it was for me to fly directly to from east Midlands to Alicante which seems ludicrous to me Edited by Midlands Eagle (12 Oct 2017 5.17pm) Edited by Midlands Eagle (12 Oct 2017 5.18pm)
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