This is very far from over.
“The CAA has granted Monarch a 12 day extension to its existing ATOL licences. The extended licences will now expire at 23:59 on 12 October 2016.
“The CAA was able to do this by requiring the shareholder to provide additional funding and because customers' money will be protected.
“Monarch now has 12 days to satisfy the CAA that the group is able to meet the requirements for a full ATOL licence.
“Monarch will remain ATOL licensed until this extension expires.
“The CAA always advises consumers to ensure they book ATOL-protected air holidays and consumers who choose to book an ATOL-protected flight or holiday with the company during this time will continue to be protected by the ATOL scheme.
“During this period of extension, the CAA will continue to monitor the company.”