Landing slot

A landing slot, takeoff slot, or airport slot is a right granted by an airport owner which allows the slot holder to schedule a landing or departure during a specific time period.

Landing slots are allocated in accordance with guidelines set down by the IATA's Worldwide Airport Slots Group. All airports worldwide are categorized as either Level 1 (Non-Coordinated Airport), Level 2 (Schedules Facilitated Airport), or Level 3 (Coordinated Airport).

Allocated landing slots may have a commercial value and can be traded between airlines. Continental Airlines paid $209 million for four pairs of landing slots from GB Airways at London Heathrow Airport, $52.3m each.[1] The highest price paid for a pair of take-off and landing slots at Heathrow Airport was $75m, paid by Oman Air to Air France–KLM for a prized early morning arrival, reported in February 2016. A year before, American Airlines paid $60m to Scandinavian Airlines.[2]

Heathrow slot valuations[3]
Year Buyer Seller daily slot pairs transaction (£M) slot value (£M)
1998 BA Air UK 4 15.6 3.9
2002 BA BA Connect 5 13 2.6
2002 BA SN Brussels 7 27.5 3.9
2003 BA SWISS 8 22.5 2.8
2003 BA United 2 12 6
2004 Virgin Flybe 4 20 5
2004 Qantas Flybe 2 20 10
2006 BA BWIA 1 5 5
2007 BA Malev 2 7 3.5
2007 BA BA 7.3 30 4.1
2007 Virgin Air Jamaica 1 5.1 5.1
2007 BMI 77.7 770 9.9
2007 unknown Alitalia 3 67 22.3
2008 Continental GB Airways/Alitalia/Air France 4 104.5 26.1
2013 Delta unknown 2 30.8 15.4
2013 Etihad Jet 3 46.2 15.4

As demand exceeds supply, slot trading became the main solution to enter Heathrow and transfers grew from 42 in 2000 to 526 in 2012 and over 10 years the average priced slot increased prices by £4 per passenger.[4]

If an airline doesn't use an allocation of slots (typically 80% usage over six months) then it can lose the rights. Airlines may operate ghost or empty flights to preserve slot allocations.[5]

Level 3 Coordinated Airports

Australia

Austria

Bangladesh

Belgium

Brazil

Cambodia

Canada

Mainland China

Hong Kong

Czech Republic

Denmark

Finland

France

Germany

Ghana

Iceland

India

Indonesia

Iran

Ireland

Israel

Italy

Japan

Kosovo

Malaysia

Mauritius

Mexico

Netherlands

New Zealand

Norway

Pakistan

Philippines

Portugal

Russia

Singapore

South Africa

South Korea

Spain

Sri Lanka

Sweden

Switzerland

Taiwan

Thailand

Turkey

Ukraine

United Kingdom

United States

No Level 3 designation, but nevertheless slot controlled:

[7][8] [9]

Vietnam

Notes and references

Notes:

  1. ↑ Kosovo is the subject of a territorial dispute between the Republic of Kosovo and the Republic of Serbia. The Republic of Kosovo unilaterally declared independence on 17 February 2008, but Serbia continues to claim it as part of its own sovereign territory. The two governments began to normalise relations in 2013, as part of the Brussels Agreement. Kosovo has received recognition as an independent state from 110 out of 193 United Nations member states.

References:

  1. ↑ "Continental pays Heathrow record". Financial Times. March 3, 2008.
  2. ↑ "Oman breaks Heathrow record with deal for slots". The Sunday Times. 14 February 2016.
  3. ↑ "Heathrow Airport's slot machine: hitting the jackpot again?". CAPA centre for aviation. 8 May 2013.
  4. ↑ "Heathrow Airport: An introduction to Secondary Slot Trading" (PDF). Airport Coordination Limited. 30 September 2012.
  5. ↑ Green anger at 'ghost flights'
  6. ↑ "FAA Announces Slot Changes at Newark Liberty International". 1 April 2016. Retrieved 3 September 2016.
  7. ↑ bloomberg.com - AMR-US Airways Deal Opposed by U.S. in Antitrust Suit
  8. ↑ "Airport Reservation Office". Federal Aviation Administration (FAA).
  9. ↑ Rfererence material and updated list of coordinated airports - IATA Worldwide Scheduling Guidelines
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