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American Buys London-Heathrow Slot for $31 Million
Cyprus Airways said it will sell American Airlines its landing slot at London Heathrow Airport on Monday. The airline will receive $31 million for the slot, which will “enhance the company’s liquidity for 2015,” according to a Cyprus news release. (www.frequentbusinesstraveler.com) More...
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An American 777 PHX LHR alongside the longstanding BA 747 PHX LHR service would be nice. :)
A.A.L. dosen,t even know.
Didn't they have to give up some LHR slots as part of the settlement agreement with the European Union? The link below gives some commentary on them giving up the PHL-LHR route so this might be how they get it back:
http://milepoint.com/forums/threads/phl-lhr-gone-post-merger.67356/
http://milepoint.com/forums/threads/phl-lhr-gone-post-merger.67356/
Is there anything that Competition Authorities could look into this deal given BA/AAs large number of slot holdings?
Suspect Cyprus Airways could move flights to Gatwick without too much impact.
Suspect Cyprus Airways could move flights to Gatwick without too much impact.
I can assume that Cyprus will relocate to LGW or increase services at BHX. They need the slots to service some British military flights to the sovereign UK bases on the island.
Next question is why the purchase of this slot and is there a potential hostile merger or acquisition of United?
Next question is why the purchase of this slot and is there a potential hostile merger or acquisition of United?
Incidentally, I'm seriously wondering how AA is going to use this. By my count, they already have three ORD flights, three DFW flights, two MIA flights, an LA flight, and the RDU flight. They're also gaining PHL and CLT from the merger. Anyone have any guesses as to how AA is going to use this?