Virgin Express Slots at LHR
VEX operated the LHR - BRU service on behalf of SN using SN slots at LHR. Now that SN have ceased existing, and have transferred all slots to DAT, do VEX still have the right to operate BRU - LHR? I think not.
From todays times.
A SMALLER and leaner Sabena is to emerge from the bankruptcy of Belgium’s 78-year-old flag carrier, thanks to a consortium of 15 investors, led by prominent Belgian banks.
As a Brussels commercial court yesterday pronounced the state-controlled airline’s failure and headquarters staff were ordered to leave, the last flight, SN60, arrived back from Cotonou in West Africa. Sabena has failed to find a rescuer, leaving 12,000 staff without employment and huge embarrassment to Belgium.
As Sabena pilots and cabin crew wept and staged protests at Zaventem International airport, other European airlines were rushing to carve up Sabena’s market and shares in BA, KLM and Lufthansa leapt amid hope that the carriers will gain from Sabena’s loss.
Lufthansa said that it had increased flights between Germany and Belgium, and Air France said that it hoped that Sabena passengers heading for long-haul destinations would go via Paris. A spokesman for Air France said that it flew to the same African destinations as Sabena.
The new Belgian airline is to be formed out of Sabena’s surviving subsidiary, Delta Air Transport (DAT), but will operate only a fraction of Sabena’s routes. Prior to the bankruptcy order, Sabena transferred its 1,000 take-off and landing slots to DAT, thus securing the airline’s most valuble asset.
The Belgian Government has cajoled a dozen investors, including the banks Fortis, Dexia, KBC and Bank Brussels Lambert, part of ING, to subscribe to a €200 million (£137 million) investment in DAT. Three regional investment corporations will contribute €45 million to DAT’s launch capital.
Sabena’s creditors are likely to sue Swissair, the defunct airline’s 49 per cent shareholder, which had promised in January to contribute €125 million to a bailout. In October Swissair suffered a cashflow problem and was forced to seek protection from creditors. A resurrection of the Swiss airline is being mounted using private sector and government funds.