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Monarch Airlines and Monarch Holidays have collapsed after the UK's aviation authorities refused to renew its operators licence.

UK airline ceases trading, stranding thousands.

Monarch Airlines, and Monarch Holidays have ceased trading after the UK's Civil Aviation Authority refused to renew the group's operating licences.

In a statement, released in the early hours of Monday morning UK time, the firm said; "we are sorry to inform you that, as of 2 October 2017, all future holidays and flights provided by these companies have been cancelled and are no longer operating.

"This is an unprecedented situation and because there are up to 110,000 passengers abroad, the UK Government has asked the CAA to coordinate flights back to the UK for all Monarch customers currently overseas. These new flights will be at no extra cost to you."

All passengers and holidaymakers already abroad will be brought home as normal by the CAA, who is chartering a fleet of aircraft in order to complete the repatriation operation.

Future bookings, both for flights and holidays however, have all been cancelled.

The airline had been facing financial difficulties for a few years, with a very similar situation exactly a year ago saw the firm on the brink of collapse.

There were faint hopes over the weekend that a deal could be done to secure the future for the airline, the UK's fifth largest at the time of collapse.

Unnamed sources have confirmed to News on News that as talks continued over the weekend, several other operators have made enquiries regarding Monarch's aircraft fleet, and maintenance operations.