A UK airline which announced plans to restart flights earlier this month has already been forced to scrap plans.
Monarch Airlines was one of Britain’s oldest airlines, launching in 1967, before closing down back in 2017.
All broadcast news outlets – including Anglia News; but excluding BBC Look East and East OMonarch Airlines has scrapped plans to restart – just 10 days after announcing the plans[/caption]
ReutersThe airline collapsed back in 2017, with the biggest peacetime repatriation of it’s time[/caption]
Last week, the airline announced plans to restart flights from the UK to Europe.
Launching a new social media account, it tweeted: “We’re working hard building a brand new Monarch, just for you.”
However, just 10 days later, they have said that the plans have been scrapped due to “exhausting their start up fund”.
A statement on Twitter said: “It is with immense regret that we announce today that we have been forced to put the brakes on our process to relaunch Monarch.
“This is not a decision that we have taken lightly, however since taking over the business two weeks ago we have drawn close to exhausted the start-up funding provided to us more rapidly than anticipated.
“We have been seeking alternative routes, such as partial divestment of share capital, and will continue to do so.
“However at the current stage there is no practical option to move forward in the immediate future.”
Monarch once flew as many as 6.3million passengers from UK airports to holiday hotspots in Spain and Greece.
However, the airline collapsed in 2017 due to the slump in the pound, an increase in fuel costs and terror attacks in tourist hotspots such as Egypt and Turkey.
More than 860,000 passengers were affected, with the £60million repatriation the biggest peacetime programme until by the 2019 Thomas Cook collapse.
Other airlines have tried and failed to relaunch.
Flybe, who went bust in 2020, restarted flights in 2022 – only to go back into administration earlier this year.
But a brand new airline hopes to launch in the UK next year.
Global Airlines has revealed plans to operate flights between London and the US from spring 2024.
The airline’s founder James Asquith has promised passengers a “return to the golden age of flying”, with a better experience along wth better food and drink onboard.
Getty – ContributorMonarch hoped to restart flights – but they have now been scrapped[/caption]