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You can find the current article at its original source at https://www.theguardian.com/business/2017/oct/01/qa-what-happens-if-monarchs-talks-with-regulator-collapse

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Version 1 Version 2
What happens if Monarch loses its Atol package holiday licence? Q&A: Monarch Airlines has shut down – what happens next?
(about 9 hours later)
What happens if the regulator does not renew Monarch’s Air Travel Organiser’s Licence (Atol)? What happens with Monarch Airlines now?
The Civil Aviation Authority could decide to offer Monarch another 24-hour extension while talks continue. However, if the CAA does not offer a renewal or an extension, Monarch will no longer be able to sell Atol-protected holidays from midnight. In such an event, Monarch is expected to appoint administrators for its package holiday business accounting for 5% of revenues as early as Monday. Monarch has gone into administration after failing to gain a renewel of its Air Travel Organiser’s Licence (Atol) from the Civil Aviation Authority. This meant it was no longer be able to sell Atol-protected holidays from midnight on Monday morning and, accordingly, just after midnight it announced it had appointed KPMG as liquidators.
What would happen to the rest of Monarch’s business?
Monarch also has an airline and an engineering business. In theory, if the package holiday business goes into administration, the other parts of the group could continue to operate. It would be up to the company’s board to decide whether or not this would be viable. Industry insiders suggest the whole group could be placed into administration, with the hope that a buyer could be found for all or parts of the business.
What if I have booked a package holiday with Monarch?What if I have booked a package holiday with Monarch?
If you have bought a package holiday through Monarch while the licence is still in effect, you will be Atol-protected. That means if Monarch goes into administration while you are abroad, you will be put on an alternative flight home with another carrier. If you are in the UK, you will be entitled to a refund. If you bought a package holiday through Monarch while the licence was still in effect up until midnight on Sunday/Monday you will be Atol-protected. That means if you are abroad, you will be put on an alternative flight home with another carrier. If you are in the UK, you will be entitled to a refund.
What if I have booked a flight only with Monarch?What if I have booked a flight only with Monarch?
If the airline business goes into administration and you have booked a flight only with Monarch, it is unlikely you will be Atol-protected. However, if you paid with a credit card and the cost was more than £100, the credit card company is liable and you can claim the money back. If you have booked a flight only with Monarch, it is unlikely you will be Atol-protected. However, if you paid with a credit card and the cost was more than £100, the credit card company is liable and you can claim the money back.
How will I get home if I have a flight only with Monarch?How will I get home if I have a flight only with Monarch?
It is possible that other airlines would step in and offer flights at discounted prices to Monarch’s flight only customers already abroad. Some travel insurance companies will cover the extra cost, depending on whether your policy offers cover for the collapse of an airline. It is possible that other airlines will step in and offer flights at discounted prices to Monarch’s flight only customers already abroad. Some travel insurance companies will cover the extra cost, depending on whether your policy offers cover for the collapse of an airline.
What would happen to the rest of Monarch’s business?
Monarch also has an airline and an engineering business. In theory, the other parts of the group could continue to operate. It would be up to the company’s board to decide whether or not this would be viable, or whether a buyer could be found for all or parts of the business.