News out a few hours ago but posting now for info 2 Oct
Around 110,000 customers are currently overseas and the government has asked the CAA to charter more than 30 aircraft to bring them back to the UK. The CAA have just been on BBC Radio to confirm they are indeed doing this. Customers due to fly from the UK have been told not to go to the airport.
Monarch is the UK's fifth biggest airline and the country's largest ever to go into administration.
They had been in last-ditch talks with the CAA about renewing its licence to sell package holidays.It had until midnight on Sunday to reach a deal with the aviation authority but failed to do so.
The terror attacks in Turkey and Egypt have deprived the airline of a large chunk of its annual revenues, and forced it to compete on heavily congested traditional routes to Spain and Greece.
That has forced down prices and profits on top of weaker demand from UK travellers - for whom a less valuable pound has made travelling costlier plus increasing the base costs for Monarch.
The BBC has more here
Governments and central banks might enjoy driving currencies lower but they should sometime be careful what they wish for.
GBPUSD currently 1.3358 with EURGBP still holding 0.8800
