Leading UK holiday airline Jet2 (LS/EXS) has bought the slots belonging to the defunct airline a Thomas Cook at Manchester, Birmingham and Stansted airports.
The sale, for an undisclosed amount, was announced by the official receiver.
The total amount of slot pairs has also not been confirmed but according to a transfer list at Airport Coordination Limited (ACL), which regulates the slots, 62 slots were transferred to Jet2 at London Stansted.
All three airports are key to Jet2’s operation and will allow the airline to expand and add new routes.
Easyjet also purchased former Thomas Cook slots in a separate deal.
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).