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Monarch Airlines folds as European airlines continue to struggle

Written by on October 3, 2017

British air carrier Monarch Airlines seems to be permanently grounded. The U.K.’s fifth-largest airline shut down Monday, making it the biggest British airline to ever collapse. The sudden shutdown has left more than 100,000 passengers in need of a lift home. An estimated 750,000 more passengers had future flights cancelled. The accounting firm┬ámanaging Monarch’s bankruptcy said “mounting cost pressures and increasingly competitive market conditions” forced the airline to fold. Austin Kim/ABC7


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