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Monarch states aviation industry in the midst of a “perfect storm”; fares to increase again

8-Oct-2009

Monarch Airlines’ Managing Director, Tim Jeans recently stated that the aviation industry is currently in the middle of a “perfect storm”, with excess capacity and excessively low fares leading to “ultimately unsustainable” yields, which are threatening the industry. According to Mr Jeans, carriers are caught in a “vicious circle” of lowering fares to fill premium seats at the cost of profits, made even worse by the global financial downturn. [1222 words]

Unlock the following content in this report:

Subheadings:

  • Fares must rise
  • Expands market share at Manchester Airport
  • “Another strong month” for passenger traffic
  • Expands further into Canary Islands
  • Expands online check-in function
  • Reaches agreement with cabin crew union
  • Launches travel insurance promotion

Graphs and data:

  • IATA global commercial airlines yield (growth change year-on-year): 2001 to F2010
  • Fares and passenger kilometres flown on international markets: Aug-2007 to Jun-2009
  • Monarch Airlines scheduled traffic highlights for Jul-2009
  • Monarch Airlines new Canary Islands services
  • Monarch Airlines destination map: Oct-2009
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