Rescuing Monarch Passengers Means a $79 Million Windfall for Airlines
- U.K. aviation regulator establishes emergency fleet of 34 jets
- Gulf carrier contributing 10 planes, coordinated by partner BA
The Monarch Airlines Ltd. logo sits on the fuselage and winglet of an Airbus SAS A320 passenger aircraft at London Luton Airport in Luton, U.K. on Monday, Sept. 26, 2016. Depsite a difficult period in the holiday industry Monarch expects full year Ebitda of more than 40 million pounds and to announce 'significant investment' according to a statement published on the company's website in response to negative speculation about their financial health.
Photographer: Chris Ratcliffe/BloombergRescue flights organized by the U.K. government following the collapse of Monarch Airlines Ltd. have brought a windfall for 20 carriers led by Qatar Airways and short-notice charter specialist Titan Airways.
A fleet of 34 aircraft has been established by Britain’s Civil Aviation Authority in order to return 110,000 tourists to the country over 14 days, with Qatar Air contributing 10 planes and Titan at least three. All told, the airlift is likely to cost around 60 million pounds ($79 million), according to the regulator.