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Share Price Information for International Airlines (IAG)

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Share Price: 178.65
Bid: 178.70
Ask: 178.80
Change: 0.35 (0.20%)
Spread: 0.10 (0.056%)
Open: 178.75
High: 181.20
Low: 177.50
Prev. Close: 178.30
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Britain must reinstate airport slot rules, say Gatwick and Wizz

Tue, 09th Nov 2021 10:39

LONDON, Nov 9 (Reuters) - Britain must bring back
pre-pandemic rules on airport slots now, the country's second
biggest airport Gatwick and low-cost Hungarian airline Wizz Air
said in a letter to the government on Tuesday.

With most COVID-19 restrictions removed, the number of
people travelling is picking up, and Gatwick, Wizz plus Belfast
and Edinburgh airports want pre-crisis rules back in place to
encourage more flying.

Under normal rules, airlines must use 80% of their take-off
and landing rights at busy airports or cede slots to competitors
but the so-called "use it or lose it" rule was waived early in
the pandemic when the crisis grounded most flights.

Gatwick has particularly suffered from the waiver because
British Airways and Virgin Atlantic have not been
flying from there but have been able to retain their slots,
putting a dampener on the recovery at London's No.2 airport.

Wizz has long-stated its ambition to expand at Gatwick,
owned by France's Vinci and Global Infrastructure
Partners, but says the slot waiver is preventing it from adding
new flights.

In the letter sent to Britain's Transport Minister Grant
Shapps, Gatwick said it was having to turn away potential new
airlines because of the waiver and blamed it for only 58% of its
pre-pandemic routes operating in August, putting it behind
bigger competitor London Heathrow.

"A return of the ‘80/20’ slot rules would bolster the UK
aviation sector’s recovery, provide competition and choice for
consumers, and help the country connect to vital international
destinations," Gatwick, the other two airports and Wizz said in
the letter.

The Department for Transport said in response to the letter:
"We are due to consult on airport slots shortly, and will set
out firm plans for the summer 2022 season early next year."
(Reporting by Sarah Young, editing by Ed Osmond)

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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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