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KPMG seeks judicial review over Monarch's landing slots worth up to £60m

by October 26, 2017

written by 26^th Oct 17 3:43 pm

Here’s why

KPMG the administrator for failed airline Monarch has said Thursday, that they are to seek a judicial review over the lucrative landing slotsthought to be worth upto £60m.

Blair Nimmo the joint administrator said: “Given the complexity of the slot exchange process, we are seeking a judicial review on this particular matter.

“In addition to assisting the joint administrators to fulfil their statutory duties, we believe this to be in the wider public interest, with the intention of resolving this matter quickly and with the greatest chance ofmaximising the continued use of the slots.”

Monarch who was the UK’s fifth largest airline failed to find a buyer therefore went into administration early this month.

The landing slots if sold, would help to recoup money for the administrators, which will help to pay the bill for the repatriationfor the strandedMonarch customers.

Chris Grayling the transport secretary said last week the £60m repatriation bill should be paid by Monarch’s owner Greybull.