Monarch: A timeline

Monarch: A timeline

With the airline ceasing trading this morning, Travel Weekly went through the archives to bring you a timeline of Monarch’s history.

From its Swiss roots to its major milestones and recent decline, this is the story of Monarch through the years.

1967 – Monarch founded as part of Swiss-based Globus by the Mantegazza family, who own Cosmos Tours
1968 – April: inaugural charter flight from Luton to Madrid
1969 – Monarch carries 250,000 passengers with fleet of six turboprop aircraft
1971 – Carrier acquires first Boeing jets
1972 – Monarch carries 500,000 passengers.
1980 – First new Boeing 737 joins Monarch fleet
1981 – Monarch launches flights from Gatwick, Manchester and Glasgow; carries one million passengers
1985 – Airline acquires scheduled operating licences
1988 – Monarch carries two million passengers
1990 – Carrier operates first long-haul aircraft
2002 – Monarch Scheduled operation established
2003 – Monarch Scheduled opens base at Gatwick
2004 – Airline follows low-cost model by charging for food and drink
2006 – Monarch places order for six Boeing 787 Dreamliners
2009 – Group reveals £32 million loss; Mantegazza family injects £45 million; Monarch revamps as schedule carrier, operating just 20% of flights as charter
2011 – Annual loss of £45 million; airline cancels Dreamliner order; owners put in £75 million
2012 – Monarch opens base at East Midlands after Bmibaby ceases flying
2013 – Airline announces return to profit
2014 – Mantegazza family decline to put in more money; chairman Iain Rawlinson leaves, Andrew Swaffield takes over as chief executive; staff accept 700 job losses and pay cuts; fleet reduced; Greybull capital acquires Monarch for nominal sum
2015 – Monarch ceases charter and long-haul flying; Swaffield reports turnaround, but short-haul competition intensifies and Sharm el-Sheikh closed to UK flights; Monarch relinquishes Cosmos name
2016 – October: carrier only avoids administration after Greybull pledges £165 million investment
2017 – October: Monarch goes into administration

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