Monarch airline denies financial problems and rumours of impending bankruptcy

MONARCH airline which serves a number of airports in Spain as well as being a vital link to Gibraltar has suffered a rash of negative comments about its continued viability which led to a number of tweets from worried passengers over the weekend of September 24.

The airline was therefore forced to make a statement in which it confirmed that whilst trading had been tougher than expected, it had no idea where the rumours had started nor why but it was certainly not going bust and flights were continuing as normal.

It did however confirm that “To weather tougher market conditions and to fund its ongoing growth, Monarch expects to announce a significant investment from its stakeholders in the coming days.”

As far as passengers are concerned Monarch, which is based at Luton Airport and employs nearly 3,000 staff around Europe, is protected by the Air Traffic Organisers’ Licensing (ATOL) scheme which basically protects passengers and the money they have spent in the event that any member goes bankrupt.