The joint administrators of Monarch Airlines Limited and Monarch Travel Group confirm that regrettably, 1,858 employees have been made redundant.
The joint administrators of Monarch Airlines Limited and Monarch Travel Group have this afternoon confirmed that regrettably, 1,858 employees have been made redundant.
Of these, 1,760 were employees of Monarch Airlines, while 98 were employed by Monarch Travel Group.
Between them the companies employed approximately 2100 people. The remainder have been retained by the joint administrators to assist them in the administration process and importantly, to help collate critical information to assist the Civil Aviation Authority with the repatriation of customers who are currently overseas.
Partner at KPMG and Joint Administrator Blair Nimmo commented, “We know that today has been a very sad and difficult day for the Monarch employees. Shortly before the appointment of the Joint Administrators, all employees received an email from the Company confirming that it was about to enter administration. Following this, the absolute priority for me and my team was to try and make contact with all members of staff as soon as possible, in order that we could communicate what the administration means for them.
“Regrettably, with the business no longer able to fly, a significant number of redundancies were made.
“Over the coming days, my team will be doing all it can to assist the employees in submitting claims to the Redundancy Payments Office for monies owed.”
Blair Nimmo, Jim Tucker and Mike Pink from KPMG were appointed joint administrators to Monarch Airlines Limited early on Monday 2 October 2017. At the same time, Blair Nimmo, Jim Tucker and Steve Absolom from KPMG have been appointed joint administrators to Monarch Travel Group Limited.
The Group’s engineering operation, Monarch Aircraft Engineering Limited, is not in administration and continues to trade normally.
- Ends -
Notes to Editors:
Monarch comprises a scheduled airline, in-house tour operator and an engineering division. The airline, founded in 1968, flies to over 40 destinations from five UK bases: London Gatwick, Birmingham, Manchester, Leeds-Bradford and Luton, where it is headquartered. The airline offered six million sector seats to leisure destinations, while the tour operating division offered package holidays across the airline’s scheduled network.
The Airline and Tour Group employ approximately 2,100 people between them. Monarch Airlines Limited, employs 1,948 staff across the following locations:
|Stockport, Greater Manchester||1|
Monach Travel Group Limited employ 153 staff across the following locations.
|Stockport, Greater Manchester||39|
|Overseas (Fargo & Malaga)||40|
A dedicated website and two helplines have been set up for customers in the UK and customers overseas:
Customers in the UK: 0300 303 2800
Customers overseas: +44 1753 330330
Information for trade, creditors and details on how to submit a customer claim can also be found at www.kpmg.co.uk/monarch
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.