One of many sad elements of the collapse of Monarch: financially, the airline’s proud heritage, excellent staff and formidable safety record count for nothing. The only significant asset, in the view of the administrator, is the portfolio of slots at Britain’s overcrowded airports.
KPMG is responsible for extracting what value it can from the wreckage of the airline that collapsed two months ago. After some legal wrangling, it won the right to sell Monarch’s former slots at Gatwick and Luton. (Permission to land and take off at Birmingham, Leeds-Bradford and Manchester, Monarch’s other former bases, is less sought-after).
British Airways to grow by 28% at Gatwick after buying Monarch slots While the creditors have squeezed a few million from Wizz Air for prime-time slots at Luton, the vast majority of the value resides in Monarch's summer schedule at Gatwick. The now-failed airline had patiently amassed 4.5 per cent of the slots at the world’s busiest single-runway airport. On a busy day (which they all tend to be at the Sussex airport between Easter and October), that corresponds to 40 movements or 20 round trips.
