Monarch Airlines on brink of collapse as 24-hour extension given | Travel News | Travel

Monarch Airlines has been granted the extension after it’s Atol is to expire by the end of today.

Atol protection means that if a company or airline goes bust, then passengers are protected with refunds and alternative travel, with all British travel firms required to hold one.

Without this automatic renewal for Monarch Airlines, it hints that there could be a risk of financial collapse.

Whilst flights are yet to be affected with the website still allowing flights to be booked, those flying with the airline in the near future may be worried.

It is the second time that the airline has been given an extension by ATOL in two years, sending a worrying message to anyone due to fly with them.

The Civil Aviation Authority has said:  “We can confirm that Atol protection will remain available for eligible holiday bookings made with Monarch on Sunday.”

“The Atol renewal process is ongoing, and the CAA will conclude the processing of applications from approximately 1,300 Atol holders in the next 24 hours.

“In certain circumstances this could require a temporary extension to complete this process.

“However, we can confirm that Atol protection will remain available for eligible holiday bookings made with Monarch on Sunday.”

For now, the airline has stated that everything is going ahead as normal.

In a statement, the British airline has stated: “Our Atol licence has been temporarily extended while we conclude discussions. Our flights are operating as normal.”

However, it is feared that the airline won’t be able to cope if it does go into a financial crisis and that passengers will then be stranded.

According to the Metro, the Government has reportedly allowed ten Qatar Airways planes to be kept at various cities in case those who have booked with Monarch are in need to transport.

Any passengers who are still booking with the airline, are still protected by Atol, yet this only applies to package holidays, not single flight bookings.

Otherwise, Britons are urged to book using credit…

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