"Unbelievable" prices for landing at London Heathrow Airport
Thu, 06 Mar, 2008
A record price has been paid for landing slots at London Heathrow Airport.
Continental Airlines has revealed it paid $209 million (£105 million) for four pairs of take off and landing slots at the airport, reports the Financial Times.
Disclosing the purchase in a filing to the US Securities and Exchange Commission, the airline said it plans to buy more landing slots.
The newspaper attributes the record price to a recent trend in US airlines taking advantage of the "open skies" treaty, where any carrier can fly from any point in the US to any point in the EU, regardless of previous restrictions.
An industry insider told the Times newspaper that the sum is "unbelievable".
Virgin is to use Rolls Royce engines in its new Boeing 787 Dreamliner aircraft fleet, reportedly paying the manufacturer £1.3 billion.
Richard Branson, head of Virgin, has claimed the engines will cut emissions by nearly 30 per cent every flight.