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Heathrow landing slots a gold mine
Monday, November 30 2009 THE EDITOR: It has just been reported in the British press that British Midland Airways Ltd Airline (BMI) has sold six pairs of its landing slots at London Heathrow airport to Swiss International Air Lines for £60 million. It is understood that the precious slots now fetch around £10 million a pair even in a recession where airlines are being hit hard in the pocket. Just about three short years ago, BWIA was reported to have disposed of their seven pairs of Heathrow slots for a paltry £5 million in total, ie £724,285 per pair, as if they were having some kind of fire sale. British Airways (BA) must have laughed all the way to the bank, as if Christmas had come early. While we don’t want to keep harking back to the past, it is still hard to lay the Bwee ghost to rest. It will forever return to haunt us. After all, past Bwee boards used to boast that the London route was their most profitable route, at least before the ill-considered expansion to other British and European destinations. And without any apparent or transparent rationale, we ended up throwing out the baby with the bath water.
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