November 8, 2017 / 10:40 AM / a month ago

London court rules that Monarch cannot sell airport slots

LONDON, Nov 8 (Reuters) - Failed airline Monarch does not have the right to sell its slots at airports, potentially the most valuable remaining part of the business, a court in London ruled on Wednesday.

The High Court rejected Monarch’s claim that it must be allocated slots for the summer 2018 schedule and said the airline’s summer 2018 will be placed into the slots pool.

The status of Monarch’s airport slots, reportedly worth 60 million pounds ($79 million), had been ambiguous since the airline went bust at the start of October.

Reporting by Alistair Smout; editing by Stephen Addison

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