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bmi looking at slot sales at London Hearthrow to raise cash

10-Nov-2009 12:20 PM

bmi is reportedly in negotiations with several other carriers to sell take-off and landing slots at London Heathrow International Airport (Daily Mail, 09-Nov-2009). The carrier controls approximately 11.5% of the slots at the airport, making it the second largest carrier at London Heathrow. The carrier requires GBP190 million in funding to cover its activities to the end of Oct-2010. bmi owner, Lufthasa, will provide a GBP95 million loan to the carrier, with bmi hoping to secure another GBP95 million from its new parent. If it does not get this funding it will cover the gap through the sale of airport slots.