Collapse of Monarch, which served more than 40 destinations from five UK bases, follows insolvency filings at Alitalia SpA and Air Berlin Plc
London: UK 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 have been placed under administration, leading to the suspension of the Luton, England-based companys operating licence, according to a statement on Monday. Future flights and holidays have been cancelled and wont be rescheduled, affecting a further 300,000 people.
The collapse of Monarch, which served more than 40 destinations fr…
Read the full article at: http://gulfnews.com/business/aviation/monarch-files-for-insolvency-in-uk-s-biggest-airline-collapse-1.2099327
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