Monarch Airlines

[Aviador]

The requirements I have seen still show 3 based aircraft, I would expect a dramatic overhaul in routes... Watch this space...

Working on what you say and looking on the positive side, If Monarch do indeed stay LBA could see some decent city routes out of it.

 

[Tarn Spotter]

If you look at the routes to cities flown from the other 4 u.k. bases, not much scope, without fighting the existing airlines.
You have only really Turin, Gib and Naples as cities not yet served from LBA.
Starting a new route from one base will be costly, they may, however, have plans to fly from the other bases.

 

[lbaspotter]

Just read the following comments on Monarch's facebook page which seems to indicate they might not pulling out of LBA

Our flights from Leeds are currently under review. We expect our review to be complete towards the end of Autumn, "by under review we mean that our planning team are investigating all routes, flights times etc prior to releasing them for sale"

 

[lbaspotter]

Well they say no news is good news, But its seems that Monarch might finally see the end off its woe's soon. As its been reported today that a private investment fund based in London under the name of Greybull is said to be in advance talks about acquiring the Monarch group form the swiss based Mantegazza family and that a deal could be done in days.

Source: http://www.travelweekly.co.uk/Articles/2014/09/22/49402/monarch-deal-could-be-just-days-away.html

Monarch deal 'could be just days away'
By Phil Davies | 22 September 2014 at 08.52 GMT

A private investment fund is thought to be in advanced talks to take over Monarch Group in a deal which would save thousands of jobs at the airline and tour operating group.

Greybull, which has private equity investments in various sectors including pharmaceuticals, semiconductors, oil and gas, retail and entertainment, is said to be one of several suitors for the business.

It is understood to be in talks with Monarch’s owner, Switzerland’s Mantegazza family, who have already pumped about £115 million into the group recent years.

The Mantegazzas want to extricate themselves altogether from Luton-based Monarch with Greybull favourite to clinch a deal, possibly within days.

At the same time Monarch management is believed to be having positive talks with unions and staff groups over restructuring plans that could see pay cuts and 900 job losses from the 3,300-strong workforce.

The Civil Aviation Authority has kept in close contact with the airline in recent months as it has struggled to find a buyer. The regulator is understood to have compiled a watchlist of tour operators that would be affected if Monarch ceased flights, the Sunday Times reported.

The philosophy of Greybull is to back incumbent management teams and to support, and to invest into, established businesses and brands and create long-term sustainable and profitable businesses. It is described as a long-term active investor with significant or controlling stakes in all of its companies.

Its current portfolio includes Plessey Semiconductors, New Era Petroleum and Arc Specialist Engineering, a conglomerate of businesses in the steel industry.

Lets hope this deal is done at that the Airline can get back to some kind of normality sooner rather than later. Well for the sake of its employee's that is!

 

[Sherburnflyer92]

It's 3rd October and we still have nothing? Some sort of joke this now got to wonder about its customers! And I'm sure the airport would love to know so it can fill those extra stands!

 

[rmac]

I don't think it is a joke, raising finance, securing jobs is a serious business and takes time and they did say that by the end of the autumn they may have their review complete. I am sure the airport want to know the answer too but they will need to be patient but I am also pretty sure they will want Monarch to stay and to be profitable.

 

[lbaspotter]

I honestly don't think we will hear anything regarding the Monarch Group until its restructure is complete and its new owners Graybull Capital take control of the group which is expected to be on around October 24th.

Source: http://www.ttgdigital.com/news/monarch- ... 87.article

 

[airforced]

The fact that Monarch didn't announce the closure of the base at LBA (or any other as far as I know) at the time they closed their EMA base was good news. The fact that they seem to be in the process of reaching some sort of agreement with Greybull with a stated envisaged completion date of 24 October is also good news.

As already mentioned the fact that these sort of things take time and can't happen overnight shouldn't be cause for concern. It is natural.

After being initially worried that we were about to loose Monarch I am now much more optimistic for S15 and hope that Monarch it it's new guise will continue to have a significant presence at LBA for many years to come.

 

[Tarn Spotter]

I think we need to keep our fingures crossed in a big way. Greybull Capital was founded by Nathaniel Meyohas who was one of the stars of Lehman Bros and we know what happened to them. In addition two years ago they promised the funds to save the Comet stores chain and were unable to provide the money when called on.
This company has been formed for 4 years and I am sure the CAA or who ever is the responsible body for authorising the ATOL certification will look hard and long in to the finance of this company, I am sure they are doing this at the moment.
At the time of the Comet saga little was known of Greybull and it certainly did not have the funds for the deal, but stated they had American investors willing to back them.
The Comet deal only required 35 million which was not forthcoming this deal needs twice this amount, plus millions in working capital, all from a company with a net worth last December of 1.6 million.
The Comet deal involved the most complex of financial derivatives, allowing those who bought to walk away with making money, but leaving the company forced in to receivership, something the administrators Deloittes felt could have been avoided.

 

[imagineif]

It is a very stressful time for Monarch employees, passengers and airports because until the deal is done - Monarch and its future hangs in the balance.

Never did I think such an iconic airline brand would be seeing out the end of its summer season on a temporary operating license in effect - it has asked for an extension until the end of October until the deal is expected to be done.

Another two weeks to wait - I sincerely hope it is a happy ending! Look at the reaction from it's staff compared to the way Air France crew are reacting. They have all accepted massive pay cuts and contractual changes in order to keep Monarch flying!

I hope the crown continues to fly and I hope we still see them on Leeds tarmac next year!

leasantry:

 

[752]

On the dried fruit forum, someone has posted

'New routes from LBA coming soon'..

sounds positive, however I don't know how reliable this is.

 

[markietg]

VERY reliable.

Anyway it will soon be Christmas....turkey and GIBlets everywhere. Grandad snoozing by the fire zzzzzzZ THat's because of all the ALCohol he's had. ssssssssSSH don't wake him. Bless the old codgeR HOpe he is enjoying his NAP.

 

[empire]

Gibraltar?.. seriously? ..... and no Malaga? Bizarre.

 

[airforced]

VERY reliable.

Anyway it will soon be Christmas....turkey and GIBlets everywhere. Grandad snoozing by the fire zzzzzzZ THat's because of all the ALCohol he's had. ssssssssSSH don't wake him. Bless the old codgeR HOpe he is enjoying his NAP.

Do we have any clues as yet as to when these routes will be announced or loaded onto the booking engine?

Interesting choice of new routes I have to say. I'll be very keen to see where they place themselves in the market as far as pricing is concerned. Any clues on fares?

 

[SNOWMAN]

hi all
some people we see in the pub have just booked monarch holls exLBA for Tenerife next
year,dept on tues may 5 at 15-10 flight no zb7505.
regards sm1 :s_thumbsup

 

[whoshotjimmi]

I have written about my concerns of a GIB route from LBA previously and, frankly, my recent trip to GIB from MAN with Monarch has not changed my mind.

The flight was pretty much full, however, there were accents from all over the North of Britain on the flight. The group opposite me were all from Leeds, there was the obvious Manc crowd, a large number of scousers and a large number of Scots. If it takes that large a catchment area to fill a route that operates a few times per week, I would have my doubts about the plausibility of filling it ex LBA.

 

[whoshotjimmi]

Rumours elsewhere suggest the following:

Alicante
Gibraltar
Naples
Rhodes
Sharm
Zante

Got to say, very surprised if GIB happens. Rhodes, Sharm and Zante would surely fit better with their flight plus holiday model rather than the low cost future they pursue.

 

[lbaspotter]

I guessing the Sharm el Sheikh flights will have to be operated by an A321 or a shark-lett fitted A320?

Also will the new flights to Gran Canaria continue to be operated into next summer?

 

[752]

Easyjet manage it with an A320 from MAN, STN, LGW & LTN (similar size runway)

 

[Sherburnflyer92]

So much for the change in direction. :s_omg :whiteflag: