Low-cost carrier EasyJet (U2/EZY) has bought the landing slots that belonged to Thomas Cook at Bristol and Gatwick Airports.
The official receiver for the bankrupt Thomas Cook made the announcement this morning.
The move will allow EasyJet to increase its presence at two key airports and brings the potential of several new routes.
EasyJet paid £36m for the slots which include 12 summer pairs and 8 winter pairs at Gatwick and 6 summer slot pairs and 1 winter pair at Bristol.
How do slots work?
Airports fall into two main categories – Co-ordinated (level 2 & 3) and Non-Coordinated (level 1).
At coordinated airports, take-offs and landings are regulated by Slot Pairs making them a valuable commodity for busy airports.
When an airline ceases trading the slots owned by the airline can be sold to another airline subject to regulatory approval to avoid monopolies.
In the UK, Slot Pairs are issued and regulated by Airport Coordination Limited (ACL).