Sun, Jul 24, 2011
Agreement Would Transfer Flying Rights In New York And
Washington, D.C.
Delta
Air Lines and US Airways said Thursday saying they welcome the
decision by the Department of Transportation to tentatively approve
the proposed slot transaction at New York-LaGuardia and
Washington-Reagan National airports.
"Upon final approval we intend to move forward with the plan, as
conditioned by the department, which will enhance competition and
allow the airlines to improve service, consumer choice, modernize
facilities and create jobs at both airports," The airlines said in
a jointly-released statement.
On May 23, Delta and US Airways announced a new agreement to
transfer takeoff and landing rights at New York's LaGuardia and
Washington D.C.'s Reagan National airports, which will enable Delta
and US Airways to expand service and increase competition at two of
the nation's key cities, and provide the opportunity for additional
access to LaGuardia and Reagan National for new entrants and
airlines with a limited presence at the airports.
Under the agreement, Delta would acquire 132 slot pairs at
LaGuardia from US Airways and US Airways would acquire from Delta
42 slot pairs at Reagan National and the rights to operate
additional daily service to Sao Paulo, Brazil in 2015, and Delta
would pay US Airways $66.5 million in cash. In addition, the
airlines will divest 16 slot pairs at LaGuardia and eight slot
pairs at Reagan National to airlines with limited or no service at
those airports. The completion of the transaction is subject to
certain closing conditions, including government and regulatory
approvals. A slot pair is the authority to operate one takeoff and
one landing.
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