Old Sod's Army-Monarch

[bog]

Anyone else got anyone stranded? My daughter is in Tenerife. Due back Thursday. Just been told that she has to pay the hotel fee again as Monarch haven't. ABTA means she will eventually get her money back. Most annoying that the company was still taking people's money the day they went under. Really sorry for the staff. No doubt those at the top will not suffer financially.


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[filham]

Can't understand why companies in a bad way can't be identified at an earlier stage and allowed to meet most of their outstanding commitments.

[bog]

Can't understand why companies in a bad way can't be identified at an earlier stage and allowed to meet most of their outstanding commitments.

Exactly.


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[BestOfBrede]

Anyone else got anyone stranded? My daughter is in Tenerife. Due back Thursday. Just been told that she has to pay the hotel fee again as Monarch haven't. ABTA means she will eventually get her money back. Most annoying that the company was still taking people's money the day they went under. Really sorry for the staff. No doubt those at the top will not suffer financially.


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Terrible situation.
What on earth was she supposed to do if she couldn't pay the Hotel?

[MJG]

Travel companies always work on a tightrope.
In the mid 80's I worked for two companies who went bust. One of which we were were taking bookings for Holidays all over Europe in the morning, I go out to lunch and come back and the doors are locked. Cash flow issues and debts called in.

On Saturday I flew into Luton and saw people getting onto a Monach flight and mentioned to my wife I'd not want to get onto that flight given what I had read about them Friday. And then two days later this happens.
Having read a bit about them they over stretched themselves and were looking to grow too quick. That along with a falling £ and less people traveling have not helped of course.

[jarv]

Good point about not seeing it ahead. I worked for a small company, could see it going downhill 3 years before it did. I got out and set up on my own. Less than a year later the doors were shut. The lazy creep who owned the business, on a Friday, gave the lads there (I think 6 lads) one week's money and that was it. OK, it was not an airline but a business is a business.

[west kowloon white]

My daughter due  to fly out on them tomorrow but fortuneatly acted quickly on a replacement flight and didn't get mugged by Ryanair.
There used to be persistent rumours that it was a money laundering operation ( completely untrue I stress.)

[Marcel_Gecov]

My daughter due  to fly out on them tomorrow but fortuneatly acted quickly on a replacement flight and didn't get mugged by Ryanair.
There used to be persistent rumours that it was a money laundering operation ( completely untrue I stress.)

Id never heard that rumour. But money laundering fascinates me and I don't really understand how it works.

[MJG]

My daughter due  to fly out on them tomorrow but fortuneatly acted quickly on a replacement flight and didn't get mugged by Ryanair.
There used to be persistent rumours that it was a money laundering operation ( completely untrue I stress.)

Id never heard that rumour. But money laundering fascinates me and I don't really understand how it works.

Ask why there are so many sun tan shops or nail shops.  Money Laundering factories everyone of them.

[JakeFFC]

My daughter due  to fly out on them tomorrow but fortuneatly acted quickly on a replacement flight and didn't get mugged by Ryanair.
There used to be persistent rumours that it was a money laundering operation ( completely untrue I stress.)

Id never heard that rumour. But money laundering fascinates me and I don't really understand how it works.

Ask why there are so many sun tan shops or nail shops.  Money Laundering factories everyone of them.

Someone has been watching too much Breaking Bad and Better Call Saul  064.gif 064.gif 064.gif

[MJG]

My daughter due  to fly out on them tomorrow but fortuneatly acted quickly on a replacement flight and didn't get mugged by Ryanair.
There used to be persistent rumours that it was a money laundering operation ( completely untrue I stress.)

Id never heard that rumour. But money laundering fascinates me and I don't really understand how it works.

Ask why there are so many sun tan shops or nail shops.  Money Laundering factories everyone of them.

Someone has been watching too much Breaking Bad and Better Call Saul  064.gif 064.gif 064.gif

Actually never watched Better Call Saul and have failed to get through the first episode of BB three times.

[west kowloon white]

I don't understand money laundering either- I used to fly for the other airline out of Luton in the70's and it came up as bar talk.Moved to Hong Kong and met other ex Moarch who alluded to "strange" finances- still friends with them.
Now in leafy Sussex and a ST on the prawn sandwich stand and nowhere near Kowloon.

[west kowloon white]

Spell check bad today.

[cmg]

Dunno about laundry, but loads of airlines have gone down the drain.

Governments often keep national flag carriers going, but even that didn't save Sabena or Swissair. Even our own BA is owned by an Anglo-Spanish multinational.

TWA, Pan Am, Laker, British United, Caledonian, Eagle, Court, Dan Air ???

Hilariously Wikki lists over 100 Russian 'airlines' started and finished since 1990.

[JakeFFC]

My daughter due  to fly out on them tomorrow but fortuneatly acted quickly on a replacement flight and didn't get mugged by Ryanair.
There used to be persistent rumours that it was a money laundering operation ( completely untrue I stress.)

Id never heard that rumour. But money laundering fascinates me and I don't really understand how it works.

Ask why there are so many sun tan shops or nail shops.  Money Laundering factories everyone of them.

Someone has been watching too much Breaking Bad and Better Call Saul  064.gif 064.gif 064.gif

Actually never watched Better Call Saul and have failed to get through the first episode of BB three times.

I am more of a BB fan than Better Call Saul. That one drags a bit for me.

Anyway, my reason for saying BB is this clip. It breaks down the process of money laundering quite well: https://www.youtube.com/watch?v=ez6xH-su2xI

[west kowloon white]

Getting quite nostalgic: think Dan Air was bought by BA for£1 - British Eagle- thought I was going to be their first cadet pilot then went bust.Thought they were bigger than Monarch but probably carried less pax.The unions certainly didn't want them saved- politics have changed.
So back to the footy and is 50m enough and how can SJ want the Watford guy when he can't say what he wants?

[Holders]

Can't understand why companies in a bad way can't be identified at an earlier stage and allowed to meet most of their outstanding commitments.

Apparently they lost £250m last year so it was hardy a surprise. Do feel sorry for people stranded though but I believe there are evacuation flights. I always found Monarch a superior charter airline.

[King_Crud]

My daughter due  to fly out on them tomorrow but fortuneatly acted quickly on a replacement flight and didn't get mugged by Ryanair.
There used to be persistent rumours that it was a money laundering operation ( completely untrue I stress.)

Id never heard that rumour. But money laundering fascinates me and I don't really understand how it works.

you take money from dirty sources, put it through the laundering system, and it comes out clean. As stated by others, small cash driven businesses are a good way. You take your dodgy cash, put it through the books of the business as sales, and then you take the income from the business as clean money.

Lots of the small businesses you see that you wonder how they exist are probably existing for these reasons: FX exchange places, mobile phones repairs, chicken shops. I've got a place opened up near me: store is basically empty except for cold shelves on one wall selling cold drinks, a few mobile phone accessories on the other shelf, sign says it's a computer repair store. I've never seen a customer in there, only person in there is the same guy who sits at the window on his laptop. Very very dodgy.

[bog]

Just heard from my daughter, a lot of others who have been asked for money have refused point bank to do so and just checked out, my daughter will do likewise. Sod em.


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