British air carrier Monarch Airlines filed for bankruptcy earlier today after nearly five years of tumult. With the filing, all operations at the airline have immediately ceased, putting about 2,000 employees out of a job and, according to multiple news reports, leaving more than 100,000 passengers stranded at airports. "We're sorry to announce that Monarch has suspended flights and holidays," the carrier said in a tweet this morning that directed stranded travelers to a resource page. Little other notice was given to passengers, although on Sunday, UK regulators acknowledged the coming crisis and put nearly a dozen aircraft on standby to pick up stranded passengers. After tight competition from low-cost carriers such as Ryanair and Easyjet and a weakened economy post-Brexit, however, Monarch couldn't find steady financial footing.

Source: Forbes October 02, 2017 18:17 UTC