Monarch: Flights canceled after U.K. airline goes bust

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Monarch Airlines
An airplane of the British low-cost airline Monarch

Financial woes have forced British low-cost airline Monarch to stop flying, leaving tens of thousands of customers in the lurch.

“We’re sorry to announce that Monarch has suspended flights and holidays,” the company tweeted Monday.

All Monarch flights from the U.K. have been canceled and won’t be rescheduled, said accounting firm KPMG, which has been appointed to manage the airline’s insolvency.

But for the next two weeks, Monarch flights to the U.K. will be replaced by alternative flights organized by the country’s Civil Aviation Authority in order to bring travelers home.

KPMG said there are roughly 110,000 Monarch customers who are overseas at the moment and due to return to the U.K. in the next two weeks.

“Mounting cost pressures and increasingly competitive market conditions in the European short-haul market have contributed to the Monarch Group experiencing a sustained period of trading losses,” said KPMG partner Blair Nimmo.

As well as the airline, Monarch’s tour group business has also gone bust. All future vacations with that business have been canceled.

CNNMoney (Hong Kong) First published October 1, 2017: 11:33 PM ET

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