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>> It's the biggest ever failure of a British Airline Monarch has gone into administration Monday leaving over 100,000 travelers stranded. The collapse prompting Britain's biggest ever push to get people back home outside of wartime. The airline is also cancelling about 300.000 future bookings, after last ditched talks with the Civil Aviation Authority failed to secure deal.
The head of the company told employees in the message, I'm truly sorry it's ended like this. Monarch ultimately fell victim to a price war over flights to the Mediterranean. It's the latest European airline to buckle under tough competition, after Air Berlin and Alitalia also filed for insolvency earlier this year.
The British government has asked the UK Airline Authority to charter more than 30 aircraft to bring stranded passengers back home.