EasyJet works the Gatwick slot machine as Flybe cashes out
On 23-May-2013, Flybe announced it had conditionally agreed to transfer all of its 25 daily slot pairs at London Gatwick (6% of the total at the airport) to the airport's leading carrier easyJet for GBP20 million. The deal is subject to approval by Flybe shareholders at an EGM (expected in Jul-2013). Flybe intends to continue to use the slots to operate its existing routes from Gatwick until Mar-2014.
Flybe may have been pondering the decision to end its 22 year association with Gatwick for some time. Its slot share at the airport has declined in recent years, while airport charge increases have disproportionately hit operators of regional aircraft.
Why did Flybe make the decision; what does the deal say about the value of Gatwick slots versus those at Heathrow; and how might easyJet use the slots?
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