CO was revealed to be the purchaser of a recent set of slots at LHR.
A Continental Airlines filing to the US Securities and Exchange Commission has revealed it paid $209m for four pairs of take-off and landing slots at Heathrow Airport.
The most recent price at LHR was pegged at $40 million last year. So clearly a nice fat increase even allowing for the fall of the dollar against the pound. And who did they pay that money to? We believe it was the parent company of GB Airways (then a BA Franchisee). After selling the airline to Easyjet – they retained 4 slot pairs at LHR. This is where they went. A nice tidy profit.
Pity poor BAA and its Spanish owners. I bet they were wishing they had been able to pocket that cash and use some of it to either pay down their debt or improve some services at LHR.
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