FLAG CARRIER MAY SIGN CONTRACT FOR SALE OF HEATHROW SLOTS THIS WEEK

Business | February 18, 2002, Monday // 00:00

Flag carrier aircraft won't land at London Heathrow airport, starting from March 28, Standart Daily wrote. The slots of Bulgaria's indebted Balkan Airlines will be soon sold. Balkan's ten weekly runway slots at London's busy Heathrow airport will become property of British Airways against 3.2 million pounds. In return, Balkan will buy slots for 700,000 pounds at Gatwick - which is a more inconvenient airport. Thus the airline's net profit from the deal will amount to 2.5 million pounds. Receivers Hristo Mollov and Olga Milenkova initially sought 5.65 million pounds. The contract is likely to be signed on Tuesday. The money will be transferred in two tranches. Balkan will also sign a contract with Lufthansa on leasing two Boeing 737 aircraft till the end of this week. The new planes will be able to land in airports with extremely strict environmental requirements, like Vienna or Amsterdam.

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