JetBlue has won an auction for bankrupt Spirit Airlines’ takeoff and landing slots at New York’s LaGuardia airport for a purchase price of $58.5 million, according to court documents.
Details of the Sale
The sale would allow JetBlue to make 11 additional round-trip flights at the airport. Spirit is selling the right to 22 daily departures and landings at the busy and highly-regulated airport.
Frontier was the second-highest bidder at $57.5 million. Spirit will seek approval of the sale at a Wednesday bankruptcy court hearing in White Plains, New York.
The U.S. Federal Aviation Administration restricts the total number of flights at three busy airports in the U.S., including LaGuardia, John F. Kennedy International Airport, and Ronald Reagan Washington National Airport.
JetBlue already had 31 slots at LaGuardia and Frontier had 4, according to FAA data. Spirit shut down earlier this year, after rising fuel costs derailed its planned bankruptcy restructuring.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
