BELEAGUERED airline Monarch appears to be preparing for the worst after it quadrupuled the price of flight tickets to discourage customers from buying
The move means that the carrier has effectively stopped selling tickets after it was revealed that tens of thousands of passengers could be stranded should it fail to renew its Air Travel Organiser’s Licence (Atol) by midnight on Sunday.
Britain’s fifth-biggest airline was on Saturday given a 24-hour lifeline after the license was due to expire at midnight.
The fact that it was not automatically renewed has again raised questions about the Luton-based company’s financial stability after a similar situation in 2016 saw it survive only after landing a €190 million rescue package.
Reports suggest that the Civil Aviation Authority has hired 10 Qatar Airways jets to rescue holidaymakers should Monarch declare itself bust
Ryanair chief Michael O’Leary last month said: “It is an open secret that Monarch and Norwegian will not make it through the winter.”