Thomas Cook in bid for Monarch’s Gatwick runway slots
Failed airline’s administrator has secured rights to sell the valuable slots
Two grounded Monarch aircraft after the airline ceased trading, October 2nd, 2017. Photograph: Reuters/Mary Turner
Travel firm Thomas Cook has bid for failed rival Monarch Airlines’ landing and take-off slots at London Gatwick airport, two sources close to discussions said, after Monarch’s administrator secured rights to sell the slots.
Earlier this week the administrator won an appeal against a previous London High Court court ruling that Monarch had lost any rights over the potentially valuable slots since it was no longer capable of operating any flights.
The administrator now hopes to recover money for creditors by transferring rights to use the slots at London’s Gatwick and Luton airports.
“We’ve expressed an interest,” one source said, confirming that Thomas Cook had bid for slots at Gatwick but not at Luton. Thomas Cook Airlines declined to comment.
Shares in the travel group jumped 4.7 per cent on the news. – Reuters