![]() ![]() The question is how over-staffed British Airways is willing to be for a few years if unions offer greater productivity in exchange for fewer job cuts. British Airways decreasing its Heathrow slots would mean fewer slots in the future.īritish Airways may cut flights and reduce its workforce, but not to the extent it has suggested. If it does proceed, future slots are tentatively planned to be allocated in proportion to current slot holdings. The arguments not to surrender Gatwick slots are even stronger for Heathrow. Photographer: Simon Dawson/Bloomberg © 2016 Bloomberg Finance LP Airlines Group SA (IAG), at London Heathrow airport in London, U.K., on Friday, Oct. Passengers disembark an aircraft operated by British Airways, a unit of International Consolidated. Extensions into 2021 are not guaranteed, and into 2022 most unlikely.īritish Airways, excluding CityFlyer, London slot allocation by airport Regulators reluctantly granted waivers for slot usage through October. But this is not a favorable time to sell or lease out slots. Assuming the worst that British Airways does shut Gatwick, it would not want to surrender its slots. There are many arguments that British Airways closing Gatwick is a negotiating tactic. Norwegian last September securitized a loan with $380 million worth of Gatwick slots. Gatwick slots increased in value as the airport became congested.įlybe sold 25 Gatwick slot pairs to EasyJet for £20 million in 2013 while EasyJet last November spent £36 million on former Thomas Cook slots for 12 pairs in summer, eight in winter plus additional slots at less congested Bristol. Air New Zealand recently sold its single slot pair for $27 million. Gatwick daily slot pair holdings by airline for summer 2020 Will Hortonīritish Airways is the second-largest holder of Gatwick slots with 17%. ![]()
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