KPMG, which is acting as a administrator for Monarch, has had its claims to sell the slots dismissed by judges. The airline’s slots for summer 2018 will now be placed in the “slots pool” to be distributed to other carriers - this process is co-ordinated by Airport Co-Ordination Ltd (ACL).
In a statement today, Blair Nimmo, partner at KPMG and joint administrator, said: "We are disappointed with today’s ruling and will be seeking leave to appeal as a matter of urgency."
The slots were seen as being one of Monarch’s most valuable assets - worth an estimated £60 million - following the airline going into administration on October 2, with other airlines particularly interested in Monarch’s slots at Gatwick.
KPMG had sought a judicial review on whether they could sell Monarch’s airport slots as administrator of the collapsed company.
Lord Justice Gross said in the judgement: “We grant the claimant (Monarch) permission to apply for judicial review but dismiss its claim. Our full reasons will be given in a judgment to be delivered in due course.
“We reject the Monarch claim that the defendant slot co-ordinator (ACL) was under a duty to allocate the summer 2018 slots to Monarch by reason of historical precedence (grandfather rights).
“Accordingly, the consequence of our decision is that the summer 2018 slots are to be placed in the slot pool."
