GET Stock QuotesNews18 APP
News18 English
»
1-min read

UK's Monarch Airlines Ceases Operations, Flights Cancelled

Tough competition in the airlines sector has been putting pressure on weaker European carriers and driving consolidation, with Air Berlin and Alitalia filing for insolvency this year and seeking new investors for parts of their business.

Reuters

Updated:October 2, 2017, 10:02 AM IST
facebookTwittergoogleskypewhatsapp
UK's Monarch Airlines Ceases Operations, Flights Cancelled
A Monarch Airlines passenger aircraft prepares for take off from Gatwick Airport in southern England on October 9, 2016. (REUTERS/Toby Melville)
Loading...
London: UK's Civil Aviation Authority (CAA) said on Monday Britain's Monarch Airlines ceased operations with immediate effect, leaving 110,000 customers stranded overseas and about 300,000 future bookings cancelled.

"We're sorry to announce that Monarch has suspended flights and holidays," Monarch said on Twitter.

Tough competition in the airlines sector has been putting pressure on weaker European carriers and driving consolidation, with Air Berlin and Alitalia filing for insolvency this year and seeking new investors for parts of their business.

"This is the UK's largest ever airline to enter administration," CAA said.

The government has asked CAA to charter more than 30 aircraft to bring back to the UK Monarch Airlines customers currently overseas, CAA said in a statement.

The government has begun the biggest ever peacetime repatriation effort to return the affected passengers, Department for Transport, Foreign and Commonwealth Office said in a statement.

Monarch said on Thursday it was talking to potential partners after a report that parts of its short-haul network would be sold.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Kotak Mahindra 1,215.75 -4.99
Sun Pharma 404.70 -1.59
Reliance 1,088.75 -3.97
CPSE ETF 22.27 -1.02
Axis Bank 594.90 -1.50
Company Price Change %Gain
Kotak Mahindra 1,215.90 -5.17
Reliance 1,088.95 -3.91
CPSE ETF 22.27 -1.02
Sun Pharma 405.05 -1.52
Yes Bank 163.50 -1.57
Top Gainers
Company Price Change %Gain
IOC 132.20 1.89
Maruti Suzuki 7,359.60 0.62
BPCL 327.25 0.57
Tech Mahindra 696.65 0.35
HPCL 225.70 0.40
Company Price Change %Gain
Maruti Suzuki 7,358.90 0.61
M&M 721.50 0.12
Top Losers
Company Price Change %Gain
Kotak Mahindra 1,214.15 -5.12
Reliance 1,088.75 -3.97
UltraTechCement 3,793.60 -3.53
Indiabulls Hsg 691.25 -3.57
Bajaj Finserv 5,660.00 -3.25
Company Price Change %Gain
Kotak Mahindra 1,216.70 -5.11
Reliance 1,089.00 -3.90
Adani Ports 363.00 -2.88
Asian Paints 1,279.60 -2.96
Bharti Airtel 297.00 -2.27

Live TV

Loading...