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7AMBiggest airline failureBritain's Monarch Airlines collapses in the biggest ever failure of a UK airline.The UK's fifth biggest airline was forced to cancel 300,000 future bookings."The decision really was a result of continuing losses, losses being sustained for quite some time and forecast to continue mainly as a result of depressed prices in the market overcapacity in the short haul market has meant prices have been depressed for some time." - KPMG UKMonarch's priority for now is the tens of thousands of travellers stranded overseas.Website: http://timesofoman.com Facebook: http://facebook.com/timesofoman Twitter: http://twitter.com/timesofoman

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