The Royal Family watch the Red Arrows flypast from Buckingham Palace balcony

The transcript describes a scene where aircraft, specifically the Red Arrows, are observed performing a display. The weather conditions, particularly the low cloud cover in southeast England, are noted. The Red Arrows' display is highlighted, including their use of colored smoke and the flying of a special Royal Standard. Upcoming events, such as a Magna Carta ceremony, are also mentioned.

What is the significance of the Royal Standard mentioned in the text?

What ceremony was mentioned to be taking place on Monday morning?