found this on the GB Airways site, and gives some indication as to what will become of the slots at LHR
GB Airways’ Heathrow slots will be exchanged under three separate agreements, the consideration for which will be passed on to the Bland Group (net of costs) on receipt. Completion is subject to the usual conditions, including approval from the relevant regulatory authorities. The transaction is expected to complete no later than 31st January 2008.
Hope that helps