PPRuNe Forums - View Single Post - Sold -16 Heathrow slots for £30 Million.
Old 24th Sep 2003, 18:08
  #4 (permalink)  
Whooaahh
 
Join Date: Sep 1999
Location: Geneva, Switzerland
Posts: 58
Likes: 0
Received 0 Likes on 0 Posts
In the Swiss media they are reporting that the slots weren't actually sold, as such, although money will be changing hands.

The US$50m is actually a guaranteed loan and Swiss had to put something on the table that BA wanted to get this loan.

After the loan is repaid, if Swiss survive that long, BA keeps the slots therefore these 14 slots have only cost BA the interest they would have received on the outstanding loan balance from their own bankers. If they are smart this would have been passed onto Swiss as part of the loan repayment plan.

Whooaahh!!!
Whooaahh is offline