FDF has raised an interesting point about slots on the "hub" thread:
The airlines have invested millions acquiring slots, so they aren't going, especially those recently transferred over from LGW
FDF - We both know LHR isn't going anywhere just yet, I was just saying what would happen if it closed. In that respect, Silver is right about it becoming a major redevelopment zone, but he is wrong about its value for change of use from inherently complex and highly customies airport terminal.
I've always felt the compulsory purchase issue would be the biggest stumbling block to making LHR close. Now as for slots - how would you transfer an asset who's value
depends on there being congestion at the tangible asset that the airport is?
How can you transfer these over to the new airport?
Scenarios:
* New airport opens but weak demand in industry means loads more space than needed, so no value in slots.
* New airport opens, but LHR never closes. BA stay, some other airlines move, so no pressure for slots.
* Everything goes to plan - airport opens on time and even on budget and then LHR closes the next day. From a passenger point of view, it all looks very smooth. As the new hub somehow manages to keep the PSC to within 30% of LHR, it is still attractive and it grows, thus creating pressure for slots, which must be purchased. But who is going to operate the new airport? Unlikely to be BAA / Ferrovial who don't seem to have anything like the cash needed. So BA shareprice dives as the value of their slots is wiped out and they have to buy new ones.
I can see a few problems here, no wonder BA want to stay put so badly!