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Beating stiff competition, British Airways owner IAG has won a race to secure Monarch Airline’s Gatwick take-off and landing slots, a source told media today.
It has been reported Monarch’s slots at Gatwick and Luton are worth in the region of £60m, with the most valuable at the West Sussex airport.
The sale, by Monarch administrator KPMG, follows last week’s Court of Appeal ruling that overturned an earlier High Court decision blocking the Big Four accountancy firm from realising value from the slots.
KPMG and IAG declined to comment after Press Association first reported this sale.
The news will come as a blow to Easyjet, Wizz Air and Norwegian— all of which had expressed an interest in the slots.