Monarch to slash up to 1000 jobs in major cull
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Monarch Airlines is to slash as many as 1000 jobs from its workforce, as part of a review of its strategy, according to reports. 
The carrier will also ditch long-haul flights in favour of concentrating on competing with low cost airlines in the short-haul European market.
Monarch is yet to confirm the job losses, but reports from the BBC and other news sources say sources in the company have confirmed the decision.
The workforce will be cut by a third if the cull goes ahead, despite capacity increases.
Demand has been flat and the airline is also retiring three Boeing 757s and will have replaced its entire fleet in the next five years.
Monarch released a statement on Monday stating the company had previously said the new management team would be “conducting a strategic review of the group’s businesses, including in relation to their operations, ownership and financing”.
“That review is on-going and further announcements will be made upon its conclusion or as otherwise appropriate.”
The carrier placed an order in July for 30 Boeing 737, with delivery by 2020. There is also an option to buy 15 further aircraft.
Last week Travel Daily UK reported that Monarch will stop flying from East Midlands Airport next year.
The company began operating from East Midlands after low-cost airline BMI Baby ceased trading in September 2012.
It is expected that Ryanair will take over some of the routes when Monarch ceases to fly from the airport.
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