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Monarch Files for Insolvency in U.K.'s Biggest Airline Failure
- British government to arrange return of 110,000 passengers
- Carrier joins Air Berlin, Alitalia in bankruptcy proceedings
U.K.'s Monarch Airlines Under Administration
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U.K. leisure carrier Monarch filed for insolvency in Britain’s 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 were placed in administration, leading to the suspension of the Luton, England-based company’s operating license, according to a statement Monday. Future flights and holidays have been canceled and won’t be rescheduled, affecting a further 300,000 people.