South African Airways may sell prized Heathrow slots to raise cash | IOL Business Report

JOHANNESBURG - South African Airways may sell its two prized nighttime operating slots at London’s Heathrow Airport as the state-owned carrier battles to stave off financial collapse, according to people familiar with the situation.

The national airline is currently using only one of the two takeoff and landing slots and could shift London-Johannesburg flights to a cheaper daytime schedule, said the people, who asked not to be identified as an official announcement hasn’t been made. That would reduce costs as the turnaround time would be shorter and free up the more valuable night time slots for potential sale.

The airline was placed under a local form of bankruptcy protection by South African President Cyril Ramaphosa after last making a profit in 2011 and having received 57 billion rand in bailouts since 1994. The administrators have announced that they will cut eight international routes and end all domestic flights aside from those between Cape Town and Johannesburg, drawing criticism from labor groups and government.

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