Decrease in flights from Luton Airport as airline goes into administration
PUBLISHED: 11:42 02 October 2017 | UPDATED: 11:42 02 October 2017
Fewer flights will be travelling to and from Luton Airport following the announcement that Monarch Airlines has gone into administration.
Blair Nimmo, Jim Tucker and Mike Pink from liability partnership KPMG were appointed joint administrators to Monarch Airlines Limited on Monday, October 2. Blair Nimmo, Jim Tucker and Steve Absalom have also been appointed joint administrators to Monarch Travel Group Limited. Monarch Aircraft Engineering Limited will continue to trade normally.
All flights booked from Monarch Airlines, which has its headquarters at Luton Airport, and all holidays booked with Monarch Travel are cancelled, and the airline will not be able to reschedule the flights or holidays.
A Luton Airport spokesman said: “We are saddened by this morning’s announcement that Monarch airlines has ceased trading with immediate effect.
“Our focus now is on assisting the Civil Aviation Authority (CAA) with its efforts to assist passengers both at home and abroad.
“All affected passengers and those seeking further information should go to the CAA’s dedicated website - monarch.caa.co.uk“
The CAA, with help from the administrators and company employees, will be coordinating the repatriation of Monarch customers who are currently overseas, and are scheduled to fly back to the UK over the next two weeks, at no cost to them.
Administrator Blair Nimmo said: “Mounting cost pressures and increasingly competitive market conditions in the European short-haul market have contributed to the Monarch Group experiencing a sustained period of trading losses. This has resulted in Management appointing us as administrators in the early hours of this morning.
“While this timing is unusual in insolvency situations, it was necessary for the appointment to be made once all Monarch aircraft were on the ground. This only occurs in the early hours of each morning.
“Once the company entered insolvency, the Air Operating Certificate it needs to be able to fly was effectively suspended, which is why all outbound flights were cancelled with immediate effect.”
The airline and tour group employed approximately 2,100 people between them.