Le Lézard
Classified in: Tourism and vacations, Transportation, Business
Subjects: CON, ACC, AVO

SKYCOP Urges Monarch Airlines to Cover Passenger Compensations With Slot Deal Money



LONDON, December 7, 2017 /PRNewswire/ --

After the biggest UK airline collapse in years, the administrator of the bankrupt Monarch Airlines has struck a deal with the International Airlines Group (IAG) over slots at Gatwick airport, valued by experts at over ?68 million.

The sale has sparked outrage among passengers left stranded or without holidays by the airline collapse, the majority of whom are yet to receive any flight compensation, which according to SKYCOP should total ?291 million.

After a favourable decision by the court, the administrator of the bust Monarch Airlines, KPMG, signed a sales deal with IAG, owner of the UKs flag carrier British Airways, over airport slots at Gatwick International Airport. This deal fulfils the long-standing British Airways' goal of expanding its presence at one of the major European aviation hubs, however, KPMG has not yet reported whether the estimated ?68 million will go as far as handling the debts of Monarch Airlines.

Giedrius Kolesnikovas, partner at law firm Motieka & Audzevicius, says best practice of bankruptcy administration shows that first and foremost, the administrator should settle debts with airline employees and deceived passengers, before switching to creditors and suppliers.

"The contract goes to show that the administrator is doing everything in its power to gather capital. However, employees and stranded passengers are yet to be compensated for their moral and physical struggle and have been left waiting," explains G. Kolesnikovas.

Since Monarch Airlines has gone bankrupt, the flight disruption and compensation process is handled outside of the renowned EU 261 law, which would have seen all 860,000 passengers entitled to travel compensation. Nevertheless, flight compensation company SKYCOP has already contacted the administrator and the UK's CAA in order to ensure that the IAG deal money goes straight to compensating passengers.

"According to the administrator, almost 2000 of Monarch Airlines' redundant employees are due to receive the money they are owed, which is great. However, hundreds of thousands of passengers have seemingly been pushed aside after they were rescued from abroad by the UK authorities," says Marius Stonkus, CEO of SKYCOP.

"According to our estimates, if the EU law applied in this case, the passengers would be receiving over ?291 million to make up for all of the stress, panic and moral struggle these travellers have been through."


For more information, contact:
Marius Stonkus
press@skycop.com
+370-685-72454


These press releases may also interest you

at 11:00
Canada Economic Development for Quebec Regions (CED) Tourism provides an excellent opportunity for economic diversification. That is why the Government of Canada supports tourism projects that attract a targeted clientele and help generate...

at 10:51
RedCoach, the only luxury motor coach transportation service in Florida, adds more services to the Miami - Tallahassee route starting February 25, 2018. Currently eight services run through this route that makes stops along the state's most popular...

at 08:40
From June 16-23, 2018, ten of the most prominent spiritual teachers, healers and community leaders of the High Andes of Ecuador will gather together for the first time at The Andes Summit, a week-long learning and healing event conceived and...

at 08:35
The Global Wellness Institute (GWI) analysed that wellness tourism in 2015 was a US$563.2 billion global industry, a figure that surpasses the GDP of a lot of countries. By comparison, Singapore, with the third highest per capita GDP in the world in...

at 08:00
A new and unique five star resort in Antigua was announced by the Ayre Group today. The development is located on the Valley Church beach and design work is already underway, with works scheduled to commence on site in late summer of 2018. The...

at 08:00
A bold vision combining lavish beauty with historical integrity, Hotel Retlaw is designed to dazzle when its grand reopening takes place this fall. And grand it will be. The much-anticipated boutique hotel will imbue an elevated sense of luxury and...




News published on 7 december 2017 at 12:33 and distributed by: