LONDON — Monarch Airlines has gone into administration after failing to secure its financial future over the weekend.
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Monarch Airlines has gone bust and is cancelling 300,000 bookings
300,000 bookings have been cancelled and 110,000 people have been left stranded abroad after the collapse of the airline.
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Monarch, one of the UK's oldest airlines, announced it was ceasing trading on Sunday. It is the largest ever administration of a UK airline.
All future flights have been immediately cancelled, affecting an estimated 300,000 bookings.
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Rumours of financial trouble at Monarch first surfaced in September last year but the airline strongly denied it was in trouble. The airline received a funding injection shortly after but has failed to turn things around. Monarch lost £291 million in the year to October 2016.
Monarch, based in Luton, was founded in 1967 and ran flights to the Mediterranean.
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