Scandinavian Airlines (SAS) has sold one of its 21 London Heathrow Airport slot pairs to an unnamed “major international carrier” for $60 million.
“The intention is to keep the seat capacity to/from London Heathrow through the use of larger aircraft on remaining departures. Furthermore, SAS will consider the use of other airports in the London-region,” SAS said in a statement. SAS currently flies from Heathrow to Copenhagen, Gothenburg, Oslo, Stockholm and Stavanger.
SAS has 21 slot pairs at capacity-restricted London Heathrow, making it the airport’s fifth largest carrier by number of departures. After the transfer, which takes effect on March 29, SAS’ holding will be slimmed to 20 daily pairs.
“The transaction will generate a positive earnings impact of the equivalent of $60 million for SAS to be accounted for during the second quarter of the fiscal year 2014/2015 with a corresponding cash effect during the fiscal year 2014/2015,” SAS said.
Over recent months, Virgin Atlantic has said it was looking to lease out two of its Heathrow slot pairs, while now-defunct Cyprus Airways missed out on a deal to sell some of its slots to Qatar Airways.