UK’s Monarch Airlines goes bankrupt

The country’s Civil Aviation Authority (CAA) said it had been asked by the government to charter more than 30 aircraft to bring home stranded passengers after all Monarch flights were cancelled, affecting as many as 300,000 future bookings. The airlines went into administration in the early hours of Monday, with KPMG being appointed to oversee the financial chaos. 

“I have immediately ordered the country’s biggest ever peacetime repatriation to fly about 110,000 passengers who could otherwise have been left stranded abroad,” said UK transport secretary Chris Grayling. “This is an unprecedented response to an unprecedented situation. Together with the CAA, we will work around the clock to ensure Monarch passengers get the support they need,” he said. 

The minister has warned of the size of the challenge, urging passengers to be “patient” as they would be flown back home from abroad. Monarch is the UK’s fifth biggest airline, employing around 2,700 people. It reported a loss of 291 million pounds last year and was placed in administration at 4 am local time when there were no Monarch planes in the air.