Paddy Power says punters predict Monarch airline will fail

Bookmaker Paddy Power has opened a book on which airline will go bust next, and claims that the UK's largest charter airline, Monarch, is favourite, the Times reports.

In the past seven days more than 100 bets have been placed on Monarch, shortening the airline's odds from 50/1 to 4/1.

Monarch said: "Monarch is the UK’s oldest airline still operating under its original brand name and will enter into its 42nd year of flying in 2010. The airline is privately owned by wealthy shareholders and has accumulated substantial assets in its balance sheet over its 41 years of profitable trading.