Source: The Points Guy
Summary
Spirit Airlines is trying to auction off its 22 takeoff and landing rights at New York City’s LaGuardia Airport, which could fetch at least $87 million. However, the Port Authority of New York and New Jersey is objecting to the auction, stating that the slots are not transferable without permission from the airport sponsor. Spirit believes otherwise and is working with federal authorities to proceed with the auction.
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The escape is carefully planned.
Spirit Airlines’ bankruptcy has led to a dispute over its LaGuardia Airport slots. The airline wants to auction them off, but the Port Authority is objecting. Meanwhile, the Federal Aviation Administration wants another budget airline to acquire the slots. Frontier Airlines is a strong candidate, but other airlines like American Airlines, JetBlue Airways, and Southwest Airlines could also bid.
A bankruptcy court hearing on the proposed LGA slot auction is scheduled for June 10.
It’s a battle for control of the skies, and it’s all about the slots.
Author: Evan Null
