The demise of the budget airline Monarch which hit the news last week was bad news for those people who have flights and holidays booked.
However, it seems that it has been good news for some of Monarch’s competition. Share prices in Easyjet and Wizz Air to name a couple, have risen by around 5%. Ryanair, who are facing their well publicised own problems, also seem to be capitalising with their share prices also rising. In addition it has been reported that Ryanair intend to offer Monarch’s pilots jobs. Perhaps this will help sort their mess out.
We hope that the knock on effect of Monarch’s administration will be minimal to the general public, however our advice is, as always, make sure you pay for holidays with your credit card so that it is easier to get your money back should your agent or the airline go bust.
For more information of bankruptcy, liquidation, administration and all other insolvency procedures, or to take advantage of our free consultation, please telephone Stella Flemmings on 01377 257788, 01724 230060 or 01904 520116 and she will make you an appointment with one of our insolvency professionals at our Driffield, Scunthorpe or York offices.
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