Monarch Airlines’ bankruptcy leaves 110.00 passengers stranded
Wednesday, October 4, 2017
After the announcement of Monarch Airlines’ bankruptcy last Sunday night, 110.000 passengers were left stranded at airports all over the world. Monarch namely cancelled all of its scheduled flights in one go.
In addition to the 110.00 stranded passengers, another 300.000 travellers got duped out of their future scheduled flights. The Civil Aviation Authority (CAA), is using charter aircrafts from, inter alia, Qatar Airways to accommodate the passengers back home. As a result, no holidays were halted with passengers needing to purchase new flight tickets.
Andrew Haines, the chairman of the CAA, states: "We ask customers to bear with us as we work around the clock to bring everyone home". The government will be chartering circa 30 planes to bring the holidaymakers back home. The total cost of this effort is estimated at £60 million.
According to Transport Minister Chris Grayling, Monarch Airlines’ downfall is the direct result of the aviation price war. Shares for both Ryanair and easyJet have since risen as the market responded to the news of Monarch Airlines’ collapse.