• Reuters

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Britain’s Monarch Airlines collapsed on Monday, causing the cancellation of hundreds of thousands of holidays, after falling victim to intense competition for flights and a weaker pound.

The failure of Monarch, the largest British airline to go bust, will affect nearly 900,000 passengers in total. It marooned more than 100,000 tourists abroad, prompting what was billed as the country’s biggest peacetime repatriation effort.

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