(Alliance News) - The liquidators for defunct holiday operator Thomas Cook Group PLC are looking to raise ten of millions of pounds through the auction of its UK airport slots to other airlines, Sky News reported on Wednesday.
The news outlet reported KPMG - appointed by the official receiver to help liquidate the nearly 180 year old travel firm - had reportedly set a deadline for late Wednesday for potential bids for the slots.
Amongst the landing slot assets for sale were 15 summer spaces at London Gatwick Airport as well as others held at Aberdeen and Manchester airports.
Sky News reported some of the biggest carriers in the UK were eyeing an offer for the slots, including British Airways-owner International Consolidated Airlines Group SA. It is also understood EasyJet PLC, Wizz Air Holdings and Virgin Atlantic Airways were interested in bidding.
The auction is reported to be targeted to be completed by mid-November for legal reasons, Sky News explained.
https://news.sky.com/story/thomas-cook-liquidators-land-bids-for-uk-airport-slots-11837155
In late September, heavily-indebted Thomas Cook entered compulsory liquidation after failing to seal last minute funding it required.
Shortly after the collapse of Thomas Cook, the Financial Times reported Wizz Air and Virgin Atlantic were eyeing slots at Gatwick previously held by Thomas Cook.
In 2017, Wizz Air had secured a number of landing slots at London Luton airport following the collapse of Monarch Airlines.
Shares in IAG were 1.5% higher at 519.00 pence in London on Thursday, Wizz Air 0.2% higher at 3,851.00 pence and easyJet 1.8% lower at 1,254.50 pence.
By Ahren Lester; ahrenlester@alliancenews.com
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