(Reuters) Failed airline Monarch does not have the right to sell its airport takeoff and landing slots, potentially the most valuable remaining part of the business, a court in London ruled on Wednesday, in a blow to administrators seeking to recoup money.
The High Court rejected Monarch’s claim that it must be allocated slots for the summer 2018 schedule and said the airline’s slots will be placed into a pool for allocation.
Administrators at KPMG had sought a judicial review to establish if they had the right to sell airport slots, reportedly worth £60m.
No duty to assign slots
Judge Peter Gross dismissed their claim, saying that as Monarch was no longer flying and was unlikely to do so in the future, Airport Coordination Limited (ACL) had no duty to assign them slots.
“There is no more than a theoretical possibility of Monarch emerging as a going concern or resuming the operation of air services,” Judge Gross told the court.