South: KPMG acts as administrator for Monarch redundancies
The joint administrators of Monarch Airlines and Monarch Travel Group have yesterday afternoon confirmed that regrettably, 1,858 employees have been made redundant. Of these, 1,760 were employees of Monarch Airlines, while 98 were employed by Monarch Travel Group.
Between them the companies employed approximately 2100 people. The remainder have been retained by the joint administrators to assist them in the administration process and importantly, to help collate critical information to assist the Civil Aviation Authority with the repatriation of customers who are currently overseas.
Partner at KPMG and joint administrator Blair Nimmo commented: “We know that today has been a very sad and difficult day for the Monarch employees. Shortly before the appointment of the Joint Administrators, all employees received an email from the Company confirming that it was about to enter administration. Following this, the absolute priority for me and my team was to try and make contact with all members of staff as soon as possible, in order that we could communicate what the administration means for them.
“Regrettably, with the business no longer able to fly, a significant number of redundancies were made.
“Over the coming days, my team will be doing all it can to assist the employees in submitting claims to the Redundancy Payments Office for monies owed.”
Blair Nimmo, Jim Tucker and Mike Pink from KPMG were appointed joint administrators to Monarch Airlines early on Monday October 2. At the same time, Blair Nimmo, Jim Tucker and Steve Absolom from KPMG have been appointed joint administrators to Monarch Travel Group.
The Group’s engineering operation, Monarch Aircraft Engineering, is not in administration and continues to trade normally.
