Source: The Points Guy
Summary
Spirit Airlines’ 22 slots at LaGuardia Airport (LGA) will be auctioned off on July 9, with the winner being the bidder with the “highest and otherwise best” offer. The slots, valued at nearly $87 million, determine which airlines get to fly from certain capacity-controlled airports and how often. The final outcome is subject to bankruptcy court approval. The winner will be able to add as many as 12 more daily flights at LGA.
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The destination is rediscovered.
LaGuardia Airport, a popular but restricted New York City airport, will see a new airline acquire Spirit’s slots. The slots will allow the winner to add more daily flights, with American, Frontier, JetBlue, and Southwest being potential bidders. The auction is seen as an opportunity for airlines to expand their presence at LGA. The slots will be reallocated by the Port Authority of New York and New Jersey, which operates LGA.
The escape is carefully planned, but the new tenant will still have to navigate the airport’s restrictions.
Author: Evan Null
