Cyprus Airways (1947) (Larnaca) has sold its last remaining London Heathrow slot to American Airlines (AA, Dallas/Fort Worth) for USD31miliion the airline has announced. The last flight to Heathrow from Larnaca will operate on September 13 with London Stansted to be used effective September 14.
The withdrawal from Heathrow is part of a European Commission-backed route rationalization programme aimed at cutting costs.
The airline's pilot union, PASYPI, has criticized the move labelling it a "critical error on behalf of the management" and has questioned the sale price given that Cyprus Airways' other Heathrow slot was sold to MEA - Middle East Airlines (ME, Beirut) for a paltry EUR6.3million (USD8.3million) in March.
