Monarch failure: Administrator claims it has legal right to sell slots

Monarch failure: Administrator claims it has legal right to sell slots

Administrators of failed Monarch Airlines are confident they will be able to sell lucrative take off and landing slots operated by the carrier.

The slots, in particular those at Gatwick, are much sought-after and expected to be worth as much as £60 million with the likes of easyJet, Wizz Air and Norwegian said to be interested.

However, the prospect that administrators KPMG could lose control of the slots because they were not sold before the airline had its Air Operators’ Certificate revoked has been raised.

KPMG told The Times: “The legal advice the administrators have received is that they can sell the slots. We are now trying to establish the process at which we will sell them.”

If KPMG is unable to sell the slots they are expected to be out into a general slot pool which is offered to airlines twice a year by independent body Airport Co-ordination.

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