Taken from the BBC News - Business Live Blog:
Monarch's Atol licence set to expire on Friday
Posted at 16:11
Monarch must renew its operating licence this week to continue selling package holidays, the Civil Aviation Authority said.
The company has been hit by rumours that it is in trouble, which have been denied by the firm. But the CCA warned that Monarch's Atol licence expires on Friday and if it is not renewed it will be unable to sell package holidays.
The government-backed Atol scheme, compensates travellers and ensures they are not stranded if a holiday company collapses.
However anyone already booked to travel will be protected as the scheme applies on the booking date, not the travelling date.