U.K. leisure carrier Monarch filed for insolvency in Britains biggest-ever airline collapse, leaving the government to arrange the return of 110,000 tourists and marking the third failure of a major European operator in five months.
The airline and Monarch Travel Group were placed in administration, leading to the suspension of the Luton, England-based companys operating license, according to a statement Monday. Future flights and holidays have been canceled and wont be rescheduled, affecting a further 300,000 people.
The collapse of Monarch, which served more than 40 destinations from five U.K. bases, follows insolvency filings at Alitalia SpA and Air Berlin Plc as a glut in capacity prompted by the low oil price compels car…
Read the full article at: https://www.bloomberg.com/news/articles/2017-10-02/u-k-s-monarch-air-placed-under-administration-flights-canceled
