The big story last week was of course the collapse of Monarch (Financial Times) which now joins bmi British Midland, Flyglobespan, XL Airways, and Zoom in the great airline graveyard in the sky. The Civil Aviation Authority fielded an impressive rescue to operation to bring passengers back to the UK. As of Saturday 7 October 56,000 Monarch customers have returned to the UK.
It now falls on KPMG to complete the administrative process. As no buyer could be found, it is near certain that the Monarch brand will not take to the skies again.
Here’s the first of our weekly round-up of aviation business news, published every Monday at 07:00 UK time.
A major theme in European aviation this year has been another wave of consolidation in Europe. This time it has been forced by Air Berlin, Alitalia and Monarch entering into administration procedures. easyJet, International Airlines Group, Norwegian and WizzAir have all been identified as potential buyers for Monarch’s short-haul business. However, the main value to these airlines will be its slot portfolio at London Gatwick. Full details of the Civil Aviation Authority’s plans to bring stranded passengers back to the UK are on its website.