easyJet announces proposed exchange of Gatwick slots

easyJet plc can confirm it has completed an agreement with Flybe Group plc to acquire 25 pairs of arrival and departure slots at Gatwick airport for a total consideration of £20 million.

The acquisition is subject to the approval of Flybe’s shareholders.

The slots will transfer from summer 2014 and will allow easyJet to provide additional frequencies on popular existing routes from Gatwick as well as add new destinations across the UK and Europe.