Ri­vals cir­cling to snatch land­ing slots

The Press and Journal (Inverness) - - NEWS -

Ri­vals have be­gun cir­cling the car­cass of col­lapsed air­line Monarch in the hope of bag­ging its land­ing slots as the firm’s ad­min­is­tra­tor pre­pares to carve up its as­sets.

The likes of easyJet, Wiz­zAir, Nor­we­gian Air Shut­tle and Bri­tish Air­ways owner IAG are un­der­stood to be mulling moves for the car­rier’s slots in Manch­ester, Gatwick, Birm­ing­ham, Lu­ton and Leeds-Brad­ford.

It comes af­ter Monarch’s pri­vate eq­uity owner Grey­bull called in ad­min­is­tra­tors to the firm in the early hours of yes­ter­day.

Grey­bull cited a highly com­pet­i­tive mar­ket, ter­ror­ism and the col­lapse in the value of the pound as fac­tors con­tribut­ing to the demise.

A sale of the group is not thought to be on the cards and it is likely that parts of the car­rier, in­clud­ing its take-off and land­ing slots, fleet of air­craft and build­ings, will be sold off piece­meal.

The en­tire process is ex­pected to take be­tween four to six weeks and it also means that the bulk of Monarch’s 2,100 staff are likely to face re­dun­dancy. The col­lapse of the Lu­ton-based air­line came as it was about to mark its 50th an­niver­sary.

Robin Byde, trans­port an­a­lyst at Can­tor Fitzger­ald, said that Monarch’s as­sets would be at­trac­tive to easyJet in par­tic­u­lar.

“Monarch as­sets may en­able easyJet to in­crease fre­quen­cies on com­mon routes, gain more at­trac­tive year-round and sea­sonal slots, and gen­er­ally take mar­ket share.”

“As­sets may en­able easyJet to in­crease fre­quen­cies”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.