After six years, a UK airline that entered administration will make a comeback.
With its 1967 debut, Monarch Airlines was one of the country's first airlines.
The airline, however, was forced to declare bankruptcy in October 2017 when it was unable to renew its ATOL licence.
Thousands of upcoming reservations were impacted, leaving more than 110,000 travellers stuck abroad.
Despite this, the airline may soon resume operating flights from the UK and vacation packages.
We're working hard to construct a whole new Monarch, specifically for you, the airline's brand-new social media account tweeted.
"Monarch Airlines Limited and Monarch Holidays Limited were yesterday passed into new ownership following the exit of the firms' founder and former majority shareholder," they continued in another tweet. Further details will be released soon.
In addition, the airline has opened Instagram and Twitter profiles, as well as a new website called letsmonarch.co.uk.
Daniel Ellingham, the new head of Monarch, promised to "create a fresh and robust firm for the UK tourism sector," according to airline magazine Airways.
"There is a chance for newbies like ourselves to step up and match demand," he continued.
But, in addition to the relaunched Thomas Cook, Jet2, easyJet, and TUI would be competitors of the new airline.
Currently, it is unknown when they might debut again or how much flights would cost.
The airline is anticipated to get in touch with the Civil Aviation Authority (CAA) in the coming weeks, while it has already attracted investors from the UK and the EU.
The largest peacetime repatriation programme at the time, which cost £60 million when Monarch went bankrupt in 2017, was surpassed by the 2019 Thomas Cook bankruptcy.
Up to 860,000 reservations were cancelled in what the Civil Aviation Authority at the time referred to as "the worst ever UK airline catastrophe."
The airline gave a multitude of explanations for its demise, including a decline in the value of the pound, rising fuel prices, and terror concerns impacting travel to Turkey, Egypt, and Tunisia.
It originally operated between Gatwick, Luton, Birmingham, Leeds-Bradford, and Manchester airports, carrying as many as 6.3 million passengers to 40 destinations.
The airline offered seasonally scheduled flights to Venice and Paphos in addition to well-known tourist destinations like Alicante and Rhodes.
It is not the only airline to have undergone a relaunch recently.
After going bankrupt in 2020, Flybe resumed operations in 2022, only to return to administration earlier this year.
This year, low-cost airline PLAY began operations, replacing WOW Air, which filed for bankruptcy in 2019.
The commencement of inexpensive transatlantic flights between the UK and the US is also planned by Global Airlines.
