London: On Monday Monarch Airlines collapsed leaving 2000 unemployed and tens of thousands of people stranded abroad. Andrew Swaffield, Chief Executive of Monarch Airlines stated he was devastated by the Airline’s collapse which had ruined the holiday plans of thousands and left many of his staff members unemployed.
“Yesterday was a heartbreaking day. 2,000 people lost their jobs, and we’re all absolutely devastated for the customers and for all of us. It’s been a great family in Monarch.”,
Monarch Airlines Collapsed due to a “bloody hurricane” of problems as pointed out by Greybull Capital’s Founder Marc Meyohas to the Associated Press.
How did it happen?
Monarch Airlines started its operation in 1968. It was owned by Greybull Capital that had given the financial injection of $219 million last October to keep the Airlines afloat. However, financial analysts suggest “Monarch was widely considered to be financially doomed” for many years.
The fifth biggest Airlines in the UK decided to call it quits after they predicted an estimated loss of over a 100 million pounds next year.
“We couldn’t figure out a way of reducing those losses significantly, either by selling the short-haul airline or by improving it.”
– Chief Executive of Monarch Airlines
Aiding Staff Members Find Employment
He also added how he was helping the staff members find jobs elsewhere by organizing job fairs in the competitive airlines.
“We also have hundreds of head office staff in Luton and are trying to organize the same kind of conversations with employers in Luton and Bromley.”, he added.
This Airline collapse is the biggest collapse even for UK Aviation Industry.
Civil Aviation Authority Launched Operation to Bring Back 1,10,000 People Stranded Abroad
After the collapse, CAA launched its operation on Monday to bring the tens of thousands of people who had booked their flights with Monarch back to their homeland. On Monday, around 60 flights were operated that brought 12,000 people back. The same operation is set to be launched on Tuesday to bring the same number of people back.
CAA stated they will continue the operation till 15 October 2017 and all the stranded passengers can find their rescheduled flight information at monarch.caa.co.uk.
All affected customers are asked to relax and keep checking the website for updates. They also have a 24-hour helpline number 0300 303 2800 for UK and +44 1753 330330 for people stranded overseas.