The Scotsman

Monarch in last-ditch talks to renew holiday licence

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Monarch was yesterday in last-ditch talks with the aviation regulator about renewing its licence to sell package holidays.

The travel company had until midnight last night to reach a deal for its Atol licence or ask for more time from the Civil Aviation Authority. The regulator extended Monarch’s licence for 24 hours on Saturday because of uncertaint­y about the company’s future.

About 10,000 people on holidays sold by the airline are currently abroad. The CAA is understood to have contingenc­y plans to bring them home on other airlines if the regulator decides not to renew its package holiday licence.

The government’s Atol scheme refunds customers if a travel firm collapses and ensures they are not stranded.

Monarch’s owner, Greybull Capital, has been trying to sell part or all of its shorthaul operation so it can focus on more profitable long-haul routes.

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