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British Airline Monarch Goes Bankrupt |
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Monday, October 9, 2017
London.- The British company Monarch Airlines, specialized in low-cost travels, announced its bankruptcy and suspended operations.
The measure caused the largest bankruptcy in the history of the aeronautical sector in the United Kingdom, and resulted in the cancellations of 300,000 reservations.
In addition, the government requested the possibility of leasing 30 planes to guarantee the return home of 110,000 clients who are stranded abroad.
Experts consider that the company was affected by a war of prices over flights to the Mediterranean region, which led to a decrease in operations.
It should be said that strong competition has pressured airlines in Europe, where Air Berlin and Alitalia declared themselves bankrupt this year.
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