Mon, 02 Oct 2017 | ADMINISTRATION
Monarch Airlines went into administration in the early hours of the morning, causing the biggest peacetime repatriation of more than 110,000 customers who have been left stranded by the collapse, and who are due to be flown back on specially chartered planes.
The Civil Aviation Authority (CAA) chief executive, Andrew Haines, said: “We know that Monarch’s decision to stop trading will be very distressing for all of its customers and employees. This is the biggest UK airline ever to cease trading, so the government has asked the CAA to support Monarch customers currently abroad to get back to the UK at the end of their holiday at no extra cost to them.
“We are putting together, at very short notice and for a period of two weeks, what is effectively one of the UK’s largest airlines to manage this task. The scale and challenge of this operation means that some disruption is inevitable. We ask customers to bear with us as we work around the clock to bring everyone home.”
Monarch has been Britain's longest-serving airline brand and employs nearly 3,000 staff.
The union, Unite, has blamed the collapse on potential investors and buyers being deterred by the continuing uncertainty around Brexit and whether or not British airlines would be able to continue flights around Europe. Unite accused the government of refusing to give a 'bridging loan' to the airline to help prop it up. The ongoing threat of terrorism has also affected the airline's profits, as two of Monarch's biggest markets (Egypt and Tunisia) have been closed after terror attacks.
Search businesses for sale
Subscribe to the Business Sale Report
A family run business in its third generation, supplying office furniture nationwide either directly or through white label websites on behalf of other retailers. Having built up an excellent reputation for the product range and service provided, the...
LEASEHOLD
Indicative offers are required by noon of Tuesday 22 September 2020, with a sale concluded by no later than the close of business on Friday 25 September 2020 and therefore only parties that are able to work within this time frame should respond.
Presenting to the market a well established 2 surgery practice due to the vendors plans to reduce responsibilities. Income is derived from fee per item patients and a large capitation scheme which equates to 32% of the practice income.
LEASEHOLD
|
18
|
|
Sep
|
Crane hire business acquired in seven-figure deal | BUSINESS SALE
Liverpool-headquartered A Mini Crane Hire has been acquired ...
|
17
|
|
Sep
|
Scottish accountancy firm expands with two new acquisitions | BUSINESS SALE
Scottish accountancy firm Goldwells has expanded with the ac...
|
16
|
|
Sep
|
Plymouth window manufacturer rescued in buy-out | BUSINESS SALE
A Plymouth window manufacturing business that formed part of...
Sign up to receive our acquisition alert emails to get your FREE guide
|
18
|
|
Aug
|
Ford performance part specialist seeking buyer or investment | BUSINESS SALE
Mountune, an Essex-based company specialising in the manufac...
|
12
|
|
Aug
|
Baird Group to close stores as CVA is approved | BUSINESS NEWS
Retailer and wholesaler Baird Group, the license holder for ...
|
03
|
|
Aug
|
Byron Burger closes more than half its outlets in pre-pack deal | BUSINESS SALE
Byron Burger has been sold in a pre-pack deal that will see ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources