Monarch airlines could be going bust

Rupert and his wife are worried about their holiday to Dubrovnik due to financial issues faced by Monarch, their holiday company. Monarch is struggling to convince regulators of its financial stability to renew its license. Customers are anxious about their bookings, and the company is under pressure from Brexit, the falling pound, and terror attacks. ATOL protection offers some financial security, but the uncertainty remains high for both customers and Monarch's staff.

What protections are in place for customers who book package holidays with Monarch?

What external factors have contributed to the pressure on Monarch's business?