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KPMG wins Monarch runway slots appeal

Monarch administrator KPMG has won its appeal against a High Court decision to deny it the right to sell the airline’s runway slots.

KPMG brought the issue to the courts to ask for clarification on its rights to the slots. The initial ruling said the administrator could not sell the take-off and landing slots because technically they would not have been allocated to Monarch at the time of its collapse.

The decision to overturn the ruling gives KPMG the ability to sell the slots to other airlines. The firm said it values the assets at £60 million.

In October, Monarch owner Greybull Capital made a pledge to use any profit made from the sale of assets to help repay the debt left by the government’s repatriation scheme.

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