MONARCH

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MONARCH

Postby Cannydc » Mon Oct 02, 2017 7:09 am

Their costs were in US Dollars, their income in GB Pounds.

300,000 holidaymakers and thousands of jobs. Hope none of them voted LEAVE.

Welcome to Brexit Britain.
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Re: MONARCH

Postby Lady Murasaki » Mon Oct 02, 2017 8:19 am

You can't blame everything on Brexit.
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Re: MONARCH

Postby Guest » Mon Oct 02, 2017 9:03 am

Lol remoaners :cuppaT:
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Re: MONARCH

Postby Avon Barksdale » Mon Oct 02, 2017 9:12 am

Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.
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Re: MONARCH

Postby Lady Murasaki » Mon Oct 02, 2017 9:16 am

Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?
More or less.
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Re: MONARCH

Postby Avon Barksdale » Mon Oct 02, 2017 9:18 am

Lady Murasaki wrote:
Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?


For sure.

I think the loss of tourism to destinations they routinely serviced because of fears of terrorism hit them hard as well.

Sad news for their workers.
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Re: MONARCH

Postby Lady Murasaki » Mon Oct 02, 2017 9:22 am

Avon Barksdale wrote:
Lady Murasaki wrote:
Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?


For sure.

I think the loss of tourism to destinations they routinely serviced because of fears of terrorism hit them hard as well.

Sad news for the their workers.


A shame all round really, for the workers, the tourist industry of those destinations and for holiday makers who loved going there.
More or less.
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Re: MONARCH

Postby Cannydc » Mon Oct 02, 2017 9:34 am

Lady Murasaki wrote:
Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?


Actually they are travelling more, Monarch had a large rise in passengers, but received £100m less net income due to the slump in sterling, the night of the Brexit vote. They never recovered.

And for the idiot Guest..... Lol @ 2000+ jobs lost and 300,000 holidays down the pan, eh ?
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Re: MONARCH

Postby Lady Murasaki » Mon Oct 02, 2017 9:53 am

Cannydc wrote:
Lady Murasaki wrote:
Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?


Actually they are travelling more, Monarch had a large rise in passengers, but received £100m less net income due to the slump in sterling, the night of the Brexit vote. They never recovered.

And for the idiot Guest..... Lol @ 2000+ jobs lost and 300,000 holidays down the pan, eh ?


Ok, it wasn't clear from your op why the business failing was due to Brexit.
Were people still travelling in large numbers to the locations Monarch go to?
More or less.
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Re: MONARCH

Postby Avon Barksdale » Mon Oct 02, 2017 10:04 am

Lady Murasaki wrote:
Cannydc wrote:
Lady Murasaki wrote:
Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?


Actually they are travelling more, Monarch had a large rise in passengers, but received £100m less net income due to the slump in sterling, the night of the Brexit vote. They never recovered.

And for the idiot Guest..... Lol @ 2000+ jobs lost and 300,000 holidays down the pan, eh ?


Ok, it wasn't clear from your op why the business failing was due to Brexit.
Were people still travelling in large numbers to the locations Monarch go to?


They had a rise in total numbers but at greater cost and to less profitable destinations due to terrorism.

See here: http://www.huffingtonpost.co.uk/entry/why-did-monarch-airlines-go-under_uk_59d20571e4b09538b5094540

This really is bad news.
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Re: MONARCH

Postby Cannydc » Mon Oct 02, 2017 10:41 am

Lady Murasaki wrote:
Cannydc wrote:
Lady Murasaki wrote:
Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?


Actually they are travelling more, Monarch had a large rise in passengers, but received £100m less net income due to the slump in sterling, the night of the Brexit vote. They never recovered.

And for the idiot Guest..... Lol @ 2000+ jobs lost and 300,000 holidays down the pan, eh ?


Ok, it wasn't clear from your op why the business failing was due to Brexit.
Were people still travelling in large numbers to the locations Monarch go to?


In the main, yes - although it would be wrong not to mention that some of their cheap holiday deals in Turkey were less popular. However, overall customer numbers were well up.
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Re: MONARCH

Postby Guest » Mon Oct 02, 2017 12:16 pm

plus the CEO of Monarch gambled on the Brexit vote by not buying advanced quantities of fuel.
He guessed on a Stay result meaning the pound would rise and his fuel bill would be 10% cheaper.
He lost and his fuel bill went up by 17%.
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Re: MONARCH

Postby Cannydc » Mon Oct 02, 2017 12:40 pm

Guest wrote:plus the CEO of Monarch gambled on the Brexit vote by not buying advanced quantities of fuel.
He guessed on a Stay result meaning the pound would rise and his fuel bill would be 10% cheaper.
He lost and his fuel bill went up by 17%.


Gamble ?

Considering the odds against a Leave result (4/1), wasn't a non-hedge the sensible approach with the likelihood of a stronger pound and cheaper fuel ?

There was only deemed to be a 20% chance of losing by not hedging, with an 80% of losing if they bought fuel futures. It was a no-brainer. Only after-timers know different.
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Re: MONARCH

Postby Lady Murasaki » Tue Oct 03, 2017 8:03 am

Cannydc wrote:
Lady Murasaki wrote:
Ok, it wasn't clear from your op why the business failing was due to Brexit.
Were people still travelling in large numbers to the locations Monarch go to?


In the main, yes - although it would be wrong not to mention that some of their cheap holiday deals in Turkey were less popular. However, overall customer numbers were well up.


The arline are saying their collapse is due to the impact of Terror and the value of the pound due to Brexit.
I had no idea they were 50 years old. Very sad news for employees.
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Re: MONARCH

Postby Trapper John » Tue Oct 03, 2017 8:13 am

Cannydc wrote:
Lady Murasaki wrote:
Avon Barksdale wrote:
Lady Murasaki wrote:You can't blame everything on Brexit.


Weak pound though...

I presume that's why Mr DC mentioned their income was in GBP but their costs were in USD.


Oh I see. Maybe people are travelling less?


Actually they are travelling more, Monarch had a large rise in passengers, but received £100m less net income due to the slump in sterling, the night of the Brexit vote. They never recovered.

And for the idiot Guest..... Lol @ 2000+ jobs lost and 300,000 holidays down the pan, eh ?


Hope you're pleased, it's cunts like you that have brought about the instability in the UK economy and you laugh about it, fucking traitor to your country and democracy. :shake head:
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