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Posts tagged to Monarch

Flybe Group: Another profit warning issued amidst a chaotic industry


On 18th October 2017, Flybe Group Plc issued a profit warning, the second one following an earlier warning in March. The company warned that profits for the first half of 2017/2018 are expected to be in the region of £5m-£10m ($6.8m-$13.5m), down from adjusted profit before tax of £15.9m ($21.5m) for the same period last year. This follows an announcement in March in which the company revised its profit expectations to a loss for year-end March 2017, rather than the earlier anticipated small profit that had previously been announced. While… Read more

Monarch Airlines: Management not to blame for collapse of UK’s longest-serving airline


In the early hours of Monday October 2, 2017, KPMG announced that it had entered the office of Monarch Airlines and the company had officially entered administration. In the following hours the Civil Aviation Authority chartered 30 planes from across Europe to repatriate some 110,000 British citizens and customers who were then stranded abroad with no return flights. Cancellations of every flight from October 2 and onwards have affected some 300,000 bookings and likely close to a million individuals, and Monarch’s departure from the short-haul flight market will almost certainly… Read more