Alitalia sells Heathrow slots

| Fri, 12/28/2007 - 03:40

Alitalia sells Heathrow slotsAlitalia has sold almost one quarter of its slots at London's Heathrow Airport for some 92 million euros, according to a report in the Financial Times on Thursday.

One of the arrival-departure slots sold for a record 30 million euros, more than double its estimated value two years ago, the daily said.

Slot prices have skyrocketed at Heathrow, one of the world's busiest airports, in view of the start of the Open Skies accord on March 1, the Financial Times explained.

According to the daily, the Alitalia slots were acquired by Continental Airlines, US Airways and British Airways.

Alitalia confirmed last week that it had negotiated the sale of three slots at the airport which it did not consider strategic.

The sale was part of a rescue plan put together ahead of the privatization of Italy's national carrier.

The Alitalia board unanimously decided last week to recommend to the government that it negotiate the sale of the Treasury's controlling 49.9% stake in the carrier with Air France-KLM.

The government said it will make a decision on Alitalia by the middle of January.

Alitalia chose Air France-KLM over a bid presented by AP Holding, the parent company of Italy's biggest private airline Air One.

The government decided at the end of last year to sell most if not all of the Treasury's 49.9% stake in Alitalia.

An attempt to auction the stake failed this summer after all the bidders dropped out because of the conditions imposed by the Treasury.

It was then decided that Alitalia management would negotiate the direct sale of the Treasury's stake.

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