Saturday, 30 September 2017

Monarch Airlines in emergency talks to secure package holiday licence by midnight

The future of Monarch, Britain's fifth-biggest airline, is hanging by a thread this weekend as it holds emergency talks with regulators about a temporary extension to its tour operator's licence.
Sky News has learnt that the Civil Aviation Authority (CAA) is weighing whether to hand Monarch a temporary extension to its Air Travel Organiser's Licence (ATOL) for the third time in four years.
Sources said that without such an extension, Monarch's travel subsidiary was likely to be placed into administration within days - leaving 100,000 of its customers facing uncertainty about their journey back to the UK.

One insider said that a temporary extension was the most likely outcome as of Saturday afternoon, but cautioned that the situation was fast-moving and that the CAA could decide to reject Monarch's application altogether.

KPMG, which has been working with Monarch on exploring sale or partnership options for its troubled short-haul network, has been lined up to act as the administrator.

That would leave thousands of British holidaymakers facing an anxious wait for news about whether they would be flown home by Monarch or whether they would need to rely on contingency plans being drawn up by the CAA.

SKY     News.