The administrator of Monarch Airlines has racked up fees of £8.2 million almost three years after the company collapsed. KPMG has been paid £5.5 million of that total since Monarch failed in October 2017 and has agreed to cap its fees at 80 per cent. The total fees are set to increase as the administration has been extended until April following an application to the high court last month as KPMG continues to deal with corporation tax matters. Monarch’s collapse triggered what was Britain’s largest peacetime repatriation before the failure of Thomas Cook last year. The government has said the taxpayer has an exposure of about £40 million for the cost of returning 110,000 stranded Monarch customers.

Source: The Times September 27, 2020 23:00 UTC