Monarch Airlines are working hand in hand with KPMG on a review of the airline which could see the holiday airline radically transformed.
The airline is already in talks with regulators Civil Aviation Authority regarding its Air Travel Organiser's Licence (ATOL) and is looking at a major restructuring of its European operations as looking further afield.
According to media speculation, Monarch is looking to greatly expand long-haul operations to compensate for the poor profits on European routes due to increased levels of competition and budget airlines price wars. One of the other options thought to be under consideration include an arrangement with another, bigger, long-haul airline that Monarch would work as a feeder for. Another tie-up could be with one of the low-cost airlines like Jet2 or EasyJet.
Monarch is looking hard at various ways at stemming losses, last year the carrier lost £317 million, most of which were caused by unfavourable aircraft leasing deals. However, the airline is due to get new aircraft later this year and is potentially going to take the Boeing aircraft on a sale and then lease back basis. This would greatly help the airlines' operational finance and give more impetus for future development.
Monarch confirmed that in recent months it has undertaken a comprehensive review and is continuing to review its operation in order to ensure it will be in optimal future shape, size and strategy.
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