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Go Back   Pollensa Forum > BEFORE YOU GO > Flights to Palma de Mallorca, Majorca

Flights to Palma de Mallorca, Majorca Anything related to flights to & from Palma and airports (UK & PMI).

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  #1  
Old 25-09-2016, 21:35
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Default Rumours of airline collapse??.

Hi All

There appears to be some concern over an Airline folding tomorrow morning, who fly to Palma. All I can say is that a call centre near me is training around 400 staff to handle calls from all over the world. Check out Monarch.
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Old 26-09-2016, 01:11
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Quote:
Originally Posted by Tangoman View Post
Hi All

There appears to be some concern over an Airline folding tomorrow morning, who fly to Palma. All I can say is that a call centre near me is training around 400 staff to handle calls from all over the world. Check out Monarch.
The Mail Online reports tonight "Talk of 'rescue flights' collecting passengers spread among online forums and social media, with speculation that the group could confirm today that it is entering administration.

The airline responded to its 113,000 Twitter followers saying: 'There is absolutely no truth in the rumours which have surfaced today'.

Hopefully for all the people with bookings, and the staff, this is just another example of the power of social media to spread rumours.

A few years ago you would only have been able to tell a few of your mates down the pub, now the world gets the rumour within hours.
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Old 26-09-2016, 09:24
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This has been reported here :- Monarch airlines says flights operating as normal - BBC News


Quote:
Budget airline Monarch says its flights are operating as normal following "negative speculation" about the firm's financial health over the weekend.
Monarch said it was "trading well" despite a difficult period for the industry because of terrorist incidents, Brexit and the weak pound.
It added that a significant investment would be announced in the coming days.
Over the weekend Monarch denied speculation that the company was going bust.
A spokesperson said they had no idea where the rumours were coming from but that they "were not true".
Speculation about its alleged collapse surfaced from customers on the company's Twitter feed.
The BBC understands the company was in talks with the Civil Aviation Authority last night about its financial situation.
But on Monday, Monarch released a statement saying it expected to make more than £40m in underlying earnings by the end of its financial year in October.
Atol protection
It said: "Our flights are operating as normal, carrying Monarch passengers as scheduled.
"To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days."
The airline is protected by the Air Traffic Organisers' Licensing (Atol) scheme - a government scheme that refunds customers if a travel firm collapses, and ensures they are not stranded.
Monarch's website says Atol offers consumer security "where a flight and accommodation have been booked together, some flights booked separately and applies in certain other circumstances".
Earlier this year Low Cost Holidays collapsed, without Atol protection, leaving 27,000 customers abroad.
Monarch employs around 2,800 staff and is based at Luton airport.
Investment firm Greybull Capital bought a 90% stake in Monarch in 2014. It also bought a division of Tata Steel this year, as well as 140 M Local convenience stores from Morrisons, which subsequently went into administration.
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Old 13-10-2016, 09:00
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This from the MDB :-

Quote:
Monarch secures its future.

Monarch Airlines, which had been given a temporary extension of its Atol licence that was due to have expired at 23.59 tonight, has both renewed the licence and received a major injection of investment (165 million pounds) from Greybull Capital, its majority shareholder.

Andrew Swaffield, the CEO of the Monarch Group said today: "It is testament to the extensive effort by all parties, over the past weeks and months, that we are able to announce the largest investment in our 48-year history, as well as the renewal of our Atol licences."

Monarch is also due to start taking delivery of new Boeing 737s in 2018, and it is an arrangement with Boeing that has helped to bring about a further injection of cash from Greybull, which holds 90% of the company.

The CAA has confirmed that the Atol licence is in place and that it will be up for renewal at the end of September next year. Annual revision of Atol licences is standard procedure.

Mr Swaffield also said today that the arrangement was not a short-term fix. There is a business plan that takes Monarch up to 2022, and the financing is designed to secure that future.

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Read the full story here :- Monarch secures its future » Balearics » News » Majorca Daily Bulletin
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