American Buys London-Heathrow Slot for $31 Million
Cyprus Airways said it will sell American Airlines its landing slot at London Heathrow Airport on Monday.
The airline will receive $31 million for the slot, which will “enhance the company’s liquidity for 2015,” according to a Cyprus news release.
Cyprus currently operates non-stop flights from Lanarca International Airport to London and said it will transfer this route to London Stansted Airport, with a change in both frequency and flight times.
The sale is effective September 13, 2014 and Cyprus will begin flights to Stansted on the 14th.
(Photo: Accura Media Group)