Several airlines are reportedly keen on picking up the slots of failed British carrier Monarch Airlines (1968) (London Luton), which went into administration earlier this month. However, questions have been raised about whether administrator KPMG is legally allowed to sell the slots to raise cash, or whether they should revert to the slot pool and be allocated by the independent body Airport Coordination Limited (ACL).

The sale of Monarch's 20 slot pairs at London Gatwick could raise as much GBP60 million on their own. Monarch also has slots at London Luton, Birmingham, GB, Leeds/Bradford, and Manchester International. However, the ability to sell the slots will come down to the validity of its Air Operators Certificate (AOC), reports The Financial Times.

"Slots can only be held by an airline with a valid operating license. If an airline ceases to hold a valid operating license, its slots revert to the slot pool," aviation lawyer, John Steel, told the news site.

Monarch's AOC was suspended when it went into administration on October 2. However, it has not yet been cancelled, raising questions about its legal position in regards to its slots.

Airlines which are reportedly interested in the slots include Norwegian UK (London Gatwick), easyJet (London Luton), Wizz Air (W6, Budapest), and IAG International Airlines Group.