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I do not think it has anything to do with nationalityYour right though since Danny Bernstein the family selected the wrong leadership for the Business Monarch has struggled to find its own identity was it a leisure/holiday Airline/Low cost/Longhaul it had a identify crisis for many years.The fact is you cannot be a LCC unless you adopt a one Aircraft type fleet and have 80 Aircraft or more so where Tim Jeans was coming from in his short time as CEO only he knows he was useless -They had Peter Brown before who lacked any charisma or leadership and was a bean counter with no visionMonarch should of stuck with their original model with its sister company Cosmos but incorporated it all in one distribution portal - flymonarch.com it was 20 years ahead of Jet 2 on this curve As for Andrew Swaffield he simply was not up to the job and why the family and then Greybull didnt see this is quite unforgivable he dismantled the business got shot ofCosmos and all third party flying as well as long haul and took the business down a suicide path by not taking a axe to the capacity after last years ATOL debacle then at the end the best bit..Lets do long haul and ditch short haul at this point he must of lost every last bit of cred ability with the Investor who have burnt the best part of 250£ m .
Monarch/Cosmos failed because of very poor (British) Management over the last 10 years & they did not get the Business model right. Monarch have been in business for 50 years long years, long before Easy Jet, Ryanair & Norwegian....so why did they not become a market leader rather then a failure? Management have let down the employee's at the bottom of the heap and joined the ranks of Court Line, Laker, BCAL, BMI & Dan Air!! So much for British Leaders??
I thought there was over capacity and this is why Monarchs revenue like for like yoy weredown 100 £ m ?When you review Easy Jets revised forecast its obvious there is huge pressure on yieldand currency due weak pound and they are barely making anything on the seat salesit is all in the way their business is structured with ownership of Aircraft and how themaintenance reserves are treated, JET2 do the same thing.Why not be more conservative with growth and increase yields whilst you have that opportunity as opposed to adding more capacity?Once TUI /COOKS follow suit there will be more capacity added than is sensibleand another opportunity to match supply with demand and protect yield will of been lost.
I do not think next Summer will be any better than this and you will get the full impact of the weak £ in terms of accommodation costs and direct operating costs for the Airlinethat are in USD.
Unless you can get yield up by at least the devaluation of the £ you will be going backwards in UK and the only way yields will go up is if capacity is cut which does not seem to be in Jet 2 plans at least... Maybe Philip Meeson knows something we mere mortals do not!