UK's Monarch to be budget carrier, cuts staff
Holiday operator to stop charter flights from next year
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[LONDON] British holidays airline operator Monarch Group is set to cut the airline's workforce by a third with the closure of its charter operations as it moves to reinvent the carrier as a scheduled European budget airline.
Monarch, privately-owned by the Mantegazza family, said that it would scrap its charter flights business to focus on the scheduled European market, repositioning itself as a smaller rival to Europe's biggest low-cost carriers Ryanair and easyJet.
A source said that Monarch could reduce its staff numbers by around a third, cutting 1,000 jobs, and reduce aircraft numbers to 30 from its current 42 as part of the shake-up plans.
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