Passengers stranded after airline collapses +
Otago Daily Times | Mon Oct 02, 2017 05:59 UTC
United Kingdom airline Monarch has collapsed leaving 110,000 passengers stranded and about 300,000 future bookings cancelled. UK's Civil Aviation Authority (CAA) said on Monday Britain's Monarch Airlines ceased operations with immediate effect. "We're sorry to announce that Monarch has suspended flights and holidays," Monarch said on Twitter. Tough competition in the airlines sector has been putting pressure on weaker European carriers and driving consolidation, with Air Berlin and Alitalia filing for insolvency this year and seeking new investors for parts of their business.