Monarch Airlines went into administration on Monday, leaving over 100,000 UK passengers stranded overseas.
It is expected that it will take at least a couple of weeks to organise replacement transport, generating a bill of around £60M.
In an effort to reduce the cost to the tax payer, the government is hoping that tour operators and credit card companies will carry at least some of the cost.
The Civil Aviation Authority (CAA) has already brought back over 11,000 stranded Monarch passengers to the UK on 61 flights with more to follow today.
It is expected that the majority of returning flights will operate at the same time or later than the originally scheduled time, so no one has to bring their trip to an early end.
34 planes have been chartered to return passengers from more than 30 airports across Europe.
The website www.monarch.caa.co.uk has the latest information and advice for Monarch passengers. A helpline set up by the CAA has already fielded more than 13,000 calls for advice.