Magazine article Management Today

Company Vitae: Monarch Airlines

Magazine article Management Today

Company Vitae: Monarch Airlines

Article excerpt

Chocks away! The UK's oldest and best-known charter airline is pinning its hopes on scheduled flights, transparent pricing and on-board wi-fi.

Formative years

Founded by industry veterans Bill Hodgson and Don Peacock, the first Monarch flight - a secondhand Bristol Britannia bound for Madrid - left Luton Airport on 5 April 1968. Backed by the wealthy Swiss Mantegazza family (owners of Globus travel group), Monarch was a clever piece of vertical integration. Globus already owned cheap 'n' cheerful UK package holiday business Cosmos, so an airline to ferry all those holidaymakers to their week in Spain was a natural move. By 1972, it was had 500,000 passengers a year. In 1980, Monarch bought its first new aircraft and in 1986 launched its first scheduled services, from Luton to Minorca. By 1989, it was carrying two million passengers a year.

Recent history

Monarch continued to fly high in the noughties, expanding its scheduled short-haul operations to cash in on the lucrative second-homes market alongside its charter business. In 2006, it ordered six Boeing 787 Dreamliners, with the bold plan of going transatlantic by 2010.

Delays mean the first Dreamliner delivery is not expected until 2014 - a blessing in disguise, as the firm (and the industry) has had a bumpy ride. From a high of 6.5 million in 2008, passenger numbers had fallen by 750,000 by 2010, with the core charter business hit hard. Monarch Group posted its first ever loss, pounds 30. …

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