8 JUNE 2015


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Article from BTNews 8 JUNE 2015

Monarch financials

Luton Airport based scheduled leisure operator Monarch Airlines has published its figures for the six months to the end of April.  Pre-tax losses are down by 37% to £69.9m. 

This is the winter period in which airlines often go into the red ahead of the traditionally stronger summer season.

Last year Monarch announced a restructuring programme aimed at removing £200m in annual costs.  It withdrew from long range operations and is now concentrating mainly on Europe.

Monarch said it had completed the final phase of the shake-up and had "created a revitalised, entirely scheduled network of destinations for discerning leisure customers," adding:   "The Monarch turnaround is firmly on track."

The company said that its tour operating business saw strong year-on-year growth in online bookings offsetting some weakness in high street sales.

Markets in the Canaries and mainland Spain grew in line with the airline's scheduled flights to key destinations while packages to Egypt were seeing recovery and Greece was still performing well despite economic uncertainties and tough competition.

Chief Executive Andrew Swaffield said: "We've had a good few months and we are trading well, and future trading into the summer looks good as well.   www.monarch.co.uk

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OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum

Cliff Richardson, Kings Langley

I fly Monarch from Luton to Majorca and Tenerife. Check in always helpful. Crews friendly. Aircraft clean and extra legroom worthwhile. On Tuesday 02/06 from Palma extra leg room 4EF new seats on A321 terrible. Park benches more comfortable. Seats hard short arm rests. two and half hrs, four and half to Tenerife I would end up a stretcher case. I hope these are not the future otherwise so help the over 70's may have to consider Bournemouth for hols!! Future 737 Max may have an alternative meaning.

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