Monarch administration means 460 job losses in Manchester
The joint administrators of Monarch Airlines Limited and Monarch Travel Group have confirmed that 1,858 employees have been made redundant – 466 of those are based in Greater Manchester.
Of the 1,760 Monarch Airlines employees to lose their jobs, 46 are based in Manchester, while another 40 of the 98 Monarch Travel Group staff were based in Stockport.
Between them the companies employed around 2,100 people and the joint administrators said the remainder have been retained to help collate critical information to assist the Civil Aviation Authority with the repatriation of more than 100,000 Monarch customers who are overseas.
Blair Nimmo, partner at KPMG and joint administrator, said: “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 and Monarch Travel Group in the early hours of yesterday morning.
They said that mounting cost pressures and increasingly competitive market conditions in the European short-haul market contributed to the Monarch Group experiencing a sustained period of trading losses.
The airline has five UK bases in London Gatwick, Birmingham, Manchester, Leeds-Bradford and Luton, where it is headquartered.
The group’s engineering operation, Monarch Aircraft Engineering, is not in administration and continues to trade normally.