Monarch administrators seek slots clarity
The administrators of Monarch Airlines—which entered into administration Oct 2—are scheduled in court next week to determine whether the carrier still has allocation powers over its airport slots. There has been confusion over who has the power to allocate, or re-allocate, the airline’s slots, which have considerable value, especially those at London Gatwick. Reports in the UK media have speculated the carrier’s slots at Gatwick alone could be worth as much as US$80m. If administrators KPMG still have control over these, the proceeds from them could be used to pay at least some of Monarch’s creditors—including owners Greybull Capital. The case is expected to revolve around whether an airline still has control over its slots once its AOC has been suspended, as was the case with Monarch when it collapsed early last month. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-11-02/unaligned/monarch-administrators-seek-slots-clarity
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Monarch administrators seek slots clarity
The administrators of Monarch Airlines—which entered into administration Oct 2—are scheduled in court next week to determine whether the carrier still has allocation powers over its airport slots. There has been confusion over who has the power to allocate, or re-allocate, the airline’s slots, which have considerable value, especially those at London Gatwick. Reports in the UK media have speculated the carrier’s slots at Gatwick alone could be worth as much as US$80m. If administrators KPMG still have control over these, the proceeds from them could be used to pay at least some of Monarch’s creditors—including owners Greybull Capital. The case is expected to revolve around whether an airline still has control over its slots once its AOC has been suspended, as was the case with Monarch when it collapsed early last month. <br/>
