Cyprus Airways (1947) (Larnaca) will sell one of its two London Heathrow landing slots to MEA - Middle East Airlines (ME, Beirut) for EUR6.3million (USD8.3million) the airline announced last week.
In its stock exchange filing, the Cypriot carrier said it would relinquish its Heathrow night-time landing slot as part of its EU-backed route rationalization programme aimed at cutting costs.
The Cyprus Post says that, as of March 25, 2014, Cyprus Airways will operate one flight to and from Heathrow, departing Larnaca at 10 am and landing in London at 1.05 pm – local time – with the return flight leaving London at 2.25 pm and arriving to Larnaca at 9.00 pm.
The Cypriots has attempted to sell the slot to Qatar Airways (QR, Doha Hamad International) for EUR20million only for the deal to collapse when its details were published in the local press.
