Ryanair to fast track applications for Engineers affected as more than 400 jobs lost as Monarch Engineering collapses

Linkedin Message from Mark Duffy

Head of Talent Acquisition at Ryanair

"Very sad news today about Monarch engineering, we are hiring type rated and non type rated engineers throughout the UK and Europe - for an immediate interview please email engrecruitment@ryanair.com and we will ensure that your application is processed asap, we will set up a fast track interview and have a contract in your hand within 24 hours if you successfully pass the interview"

News Article;

More than 400 jobs lost as Monarch Engineering collapses

Monarch Aircraft Engineering ran into financial difficulty due to debts inherited from the airline and the loss of business.

10:35, UK,Friday 04 January 2019

The engineering arm of collapsed budget airline Monarch has fallen into administration with the loss of about 408 jobs. 

Monarch Aircraft Engineering Limited (MAEL), owned by private equity firm Greybull Capital, ran into financial difficulty due to debts inherited from the airline and the loss of business.

MAEL, which employed more than 553 people in the UK and Europe, provided aircraft maintenance services to the likes of Cathay Pacific, easyJet, Norwegian and Virgin Atlantic.

Professional services firm KPMG, which had been appointed as administrator, said the business was "unsustainable in its present form" following a restructuring in October.

"Following the administration of other Monarch entities in 2017, MAEL sought to build its customer base to replace the loss of business from the former airline," David Pike, restructuring partner at KPMG, said.

"Through the insolvency of the airline however, the company inherited significant debts and claims. Every effort has been made to turn around the business, including launching a CVA (Company Voluntary Arrangements) which sought to resolve these legacy debts.

"Unfortunately, following the CVA, a number of customers reduced or sought to terminate their relationship with MAEL, further adversely impacting the business."

Budget carrier Monarch Airlines went bust in 2017 leading to the loss of 1,858 jobs. About 860,000 passengers were affected by the carrier's demise.

Source News Article; https://news.sky.com/story/more-than-400-jobs-lost-as-monarch-engineering-collapses-11598512