Monarch’s creditors risk losing valuable airport slots

Monarch’s creditors risk being stripped of the airline’s most valuable assets — its take-off and landing slots — which could be worth as much as GBP60m. The airline entered administration in the early hours of Monday. All of its 750,000 future bookings have been cancelled. Questions are being raised over whether administrators KPMG have the right to sell the airline’s airport slots, with people briefed on the process suggesting the issue is subject to fierce debate and legal interpretation. Monarch’s take-off and landing slots at London Gatwick are subject to a bidding war between EasyJet and British Airways, said people close to the discussions. While Monarch has slots at London Luton, Birmingham and Manchester, the airline’s slots at Gatwick have generated the most interest because the lack of capacity at peak times. <br/>