Monarch Airlines collapsed in 2017; however, it announced its intent to relaunch under new ownership a week or so ago.
The relaunch went as far as revealing the livery in which the new aircraft would wear. However, just as quickly as these plans were unveiled, Monarch announced it had no more money and thus had to stop its relaunch plans.
The company’s board said it had exhausted the start-up funding provided quicker than anticipated in only two weeks and, as a result, cannot continue for the moment.
The board notes that it intends to seek alternative routes. However, they are yet to find what is described as a practical option to continue their operations in the future.
Monarch putting their relaunch on hold has raised many eyebrows about the legitimacy of the plans and intent. Only two weeks ago, their media presence kicked back to life.
Relaunching was always going to be tough, and the executives believed it would be able to fill the unfilled gaps left following the collapse of the initial brand back in 2017. However, there were concerns over whether they could do this following other European-based carrier’s expansion in the last six years.
For Monarch now, the future remains unclear, and whether the new owners can relaunch the brand is the question on everyone’s lips. For now, there is no pathway where a relaunch can take place with the company out of money.