Monarch seeks temporary license extension

Monarch Airlines’ Air Travel Organiser’s Licence (Atol) expires at midnight tonight. The Atol requires an airline to have enough money to operate for three months. The airline is reported to have been in talks with the Civil Aviation Authority this week to gain the time it needs to secure a multimillion-pound cash injection. Monarch denies reports earlier this week that claimed it was in financial difficulty but it did confirm on September 26 that it was poised to announce “a significant investment from its stakeholders in the coming days”.