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MIflyer12
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EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 12:23 pm

This was posted in the Thomas Cook bankruptcy thread but, IMHO, deserves a separate mention after much speculation this was a JetBlue opportunity to enter London.

https://www.reuters.com/article/us-thom ... SKBN1XI16S

LONDON (Reuters) - British budget airline easyJet (EZJ.L) has bought the take-off and landing slots of failed travel company Thomas Cook at London Gatwick and Bristol airports for 36 million pounds ($46 million), it said on Friday.

...

EasyJet acquired 12 of summer slot pairs and 8 winter slot pairs at Gatwick, plus six summer slot pairs and one winter slot pair at Bristol, in the deal.



If you'll pardon the American expression - JetBlue will need to get out its checkbook if it wants to fly to LHR/LGW.
 
PlymSpotter
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 12:38 pm

I thought they had more than 12 daily pairs.

MIflyer12 wrote:
If you'll pardon the American expression - JetBlue will need to get out its checkbook if it wants to fly to LHR/LGW.


Unless it has been scrapped, the 'New Entrants Scheme' gives airlines not currently flying to a slot coordinated airport first refusal on 50% of available slots. At LGW there is still enough wiggle room for attractive slots to be made available via this approach, so no need to fight incumbent easyJet for them.

This is how China Airlines, China Eastern, Air China etc... have come to launch service.
...love is just a camouflage for what resembles rage again...
 
flyby519
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 12:39 pm

Cheap prices for the slots overall... $46m would be lucky to get 1 LHR slot
 
airbazar
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 12:41 pm

To anyone who thinks B6 is interested in LGW, I have a bridge I'd like to sell you. It's really cheap too. Great opportunity :)
 
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mikegigs
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 12:56 pm

B6 is still years away from launching London service, who knows if they are even ready internally to purchase slots. They probably don't have "all their ducks in a row" yet.To say this was a missed opportunity for B6 is most likely true, but it won't be their only opportunity. Perhaps they are still hoping for LHR slots.

...or perhaps they are just waiting until DY's slots go up for sale :mischievous:
Airports: BOS, JAX, JFK, EWR, LGA, CVG, ATL, CLT, DCA, IAD, STT, PVD, ALB, MCO
Aircraft: 733, 735, 73G, 738, 752, 717, A319, A320, MD-88, E190, E175, E145, CRJ-200, CRJ-700, Q400
Airlines: B6, CO, DL, US, NW, WN, DH
...a good start but a long way to go!
 
WaywardMemphian
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 1:10 pm

mikegigs wrote:
B6 is still years away from launching London service, who knows if they are even ready internally to purchase slots. They probably don't have "all their ducks in a row" yet.To say this was a missed opportunity for B6 is most likely true, but it won't be their only opportunity. Perhaps they are still hoping for LHR slots.

...or perhaps they are just waiting until DY's slots go up for sale :mischievous:


Or use a partnership with DY to access the slots, like that recent code share. JetBlue needs a connecting partner to further it's destinations. DY could move all or some of the Boston metal to new markets.
 
IndianicWorld
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 1:11 pm

Maybe B6 just want to go to STN instead... that’s about all that will be left at this rate :)
 
CometOrbit
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 1:42 pm

Thomas Cook's slots at Manchester, Birmingham and Stansted have been sold to Jet2, according to the BBC.
 
f4f3a
Posts: 617
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 1:49 pm

Interesting news I had heard rumours of them looking in bhx , but extra slots at those airports is good. Wonder if they are going to start new destinations or just increase frequency ?
 
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jfklganyc
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 1:52 pm

Does B6 have a plane to fly to London?

How could they get slots when they havent even finished ETOPs
 
Dominion301
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 2:09 pm

MIflyer12 wrote:
If you'll pardon the American expression - JetBlue will need to get out its checkbook if it wants to fly to LHR/LGW.


They might have more success with their chequebook as opposed to an American checkbook. ;)
 
airbazar
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 2:23 pm

The last thing B6 wants to do is shell out millions for LHR slots and then see the 3rd runway get approved and slot prices take a dive. LHR slot prices (and LGW), are likely to be as high as they'll ever be right now. Of course gambling that a 3rd runway will be built is far from being a good idea but considering they don't even have the aircraft to operate the route right now, waiting a little longer is hardly a big deal.
 
Bluewho
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 2:43 pm

I wonder why it is thought here on airliners.net that JetBlue has no plan for Europe? I think many people buy into what or how they think things should be. I may not be a fan of the management team right now but I doubt very very much the don’t have an exact idea of where they are going and how they will do it. It’s still years away so no this is not some big strategic blunder by JetBlue.
 
Moosefire
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 2:52 pm

Bluewho wrote:
I wonder why it is thought here on airliners.net that JetBlue has no plan for Europe? I think many people buy into what or how they think things should be. I may not be a fan of the management team right now but I doubt very very much the don’t have an exact idea of where they are going and how they will do it. It’s still years away so no this is not some big strategic blunder by JetBlue.


I think the way it was announced and the very long lead time is exactly what gives folks reasons to say there really is no plan for Europe other than conceptually going. This past spring leadership was under pressure from investors over unimpressive margins... saying “we’re going to Europe” was a way to quell some of that criticism.

It’s been a good while since I’ve worked there now, but if the past is any indicator of the future I’d say London will remain a good ways off.
MD-11F/C-17A Pilot
 
jimbo737
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 2:53 pm

When it comes to London, B6, (more like B6 fanboys), may have champagne tastes but a beer budget.

Who wouldn’t want LHR slots? But to acquire enough slots to develop a meaningful LHR schedule will be prohibitively and unrealistically expensive until (if), the third runway is built, and even then, they won’t come cheap or be handed out like Bed Bath and Beyond 20% off coupons.

Get used to the idea of LGW. WS is doing just fine with their summer 4x daily / winter 2x daily ops, though they’ll want a couple more within the next few years. LGW has easy access to London via the Gatwick Express every 15 mins to Victoria Station, not to mention good British Rail connections to the rest of the UK that avoid central London connections.

And lest anyone forget, jetBlue was modeled on WS way back when in 1998, via the DGN connection.
 
JoseSalazar
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 3:04 pm

WaywardMemphian wrote:
mikegigs wrote:
B6 is still years away from launching London service, who knows if they are even ready internally to purchase slots. They probably don't have "all their ducks in a row" yet.To say this was a missed opportunity for B6 is most likely true, but it won't be their only opportunity. Perhaps they are still hoping for LHR slots.

...or perhaps they are just waiting until DY's slots go up for sale :mischievous:


Or use a partnership with DY to access the slots, like that recent code share. JetBlue needs a connecting partner to further it's destinations. DY could move all or some of the Boston metal to new markets.

What recent code share? B6 has no code share with DY. They announced an inter line agreement. Not a code share. Is that what you’re talking about?
 
B757236GT
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 4:05 pm

Interesting to see the news about BRS comes on the day that they bring in one of their A321s for a first visit. I also wasn't aware that BRS was particularly slot restricted at the moment with Thomas Cook and BMI regional having both gone. It will certainly be interesting to see where they decide to go now, either new routes or extra rotations on existing ones and whether a change in the proposed operation of the A321s would be increased given Bristol will be the third base to get them or whether this is simply a way saying to other airlines to back off, this our airport now given its about 70% Easyjet.
 
Coexstud
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 4:25 pm

Dominion301 wrote:
MIflyer12 wrote:
If you'll pardon the American expression - JetBlue will need to get out its checkbook if it wants to fly to LHR/LGW.


They might have more success with their chequebook as opposed to an American checkbook. ;)

‘‘Tis true but alas dear England depends on America for many many more things than America does in favourite of Britain apart from alas clotted cream prattle !
 
peterinlisbon
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 4:44 pm

A partnership between Norweigan and JetBlue would make a lot of sense. Norweigan has feed on the European end but nothing in the US. I imagine they could both benefit from something like that.
 
airbazar
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 5:01 pm

jimbo737 wrote:
Who wouldn’t want LHR slots? But to acquire enough slots to develop a meaningful LHR schedule will be prohibitively and unrealistically expensive until (if), the third runway is built, and even then, they won’t come cheap or be handed out like Bed Bath and Beyond 20% off coupons.

Here we go again with the B6 is too poor to afford LHR slots :crazy:
Let entertain for a minute that they would get someone willing to sell them 5 slots pairs (3x JFK , 2x BOS), at 50 mil per slot pair, that's a total of 250 mil. You don't think an airline like B6 has the ability to easily come up with the funding for that? That the price of 2 A321neo's, for an airline that currently has 80 of those on order. They are also sitting on a Billion $ cash. (https://www.macrotrends.net/stocks/char ... sh-on-hand). Mind boggling how some people think.
 
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VS4ever
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 5:18 pm

airbazar wrote:
jimbo737 wrote:
Who wouldn’t want LHR slots? But to acquire enough slots to develop a meaningful LHR schedule will be prohibitively and unrealistically expensive until (if), the third runway is built, and even then, they won’t come cheap or be handed out like Bed Bath and Beyond 20% off coupons.

Here we go again with the B6 is too poor to afford LHR slots :crazy:
Let entertain for a minute that they would get someone willing to sell them 5 slots pairs (3x JFK , 2x BOS), at 50 mil per slot pair, that's a total of 250 mil. You don't think an airline like B6 has the ability to easily come up with the funding for that? That the price of 2 A321neo's, for an airline that currently has 80 of those on order. They are also sitting on a Billion $ cash. (https://www.macrotrends.net/stocks/char ... sh-on-hand). Mind boggling how some people think.


Let’s also add on to that around $600m in lines of credit that are yet untapped. If you don’t use it for acquisitions, dropping a couple of hundred million in assets that you can write off over 25 years or longer is pretty good. They have enough free cash flow to be paying down debt.
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flyby519
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 5:53 pm

airbazar wrote:
jimbo737 wrote:
Who wouldn’t want LHR slots? But to acquire enough slots to develop a meaningful LHR schedule will be prohibitively and unrealistically expensive until (if), the third runway is built, and even then, they won’t come cheap or be handed out like Bed Bath and Beyond 20% off coupons.

Here we go again with the B6 is too poor to afford LHR slots :crazy:
Let entertain for a minute that they would get someone willing to sell them 5 slots pairs (3x JFK , 2x BOS), at 50 mil per slot pair, that's a total of 250 mil. You don't think an airline like B6 has the ability to easily come up with the funding for that? That the price of 2 A321neo's, for an airline that currently has 80 of those on order. They are also sitting on a Billion $ cash. (https://www.macrotrends.net/stocks/char ... sh-on-hand). Mind boggling how some people think.


And they just announced a ~$775mil debt offering. What they do with that money is anyone’s guess (stock buybacks? DY investment? Slots?) but certainly adds some liquidity to the balance sheet.
 
Bluewho
Posts: 168
Joined: Wed Apr 10, 2019 12:58 pm

Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 5:56 pm

MIflyer12 wrote:
This was posted in the Thomas Cook bankruptcy thread but, IMHO, deserves a separate mention after much speculation this was a JetBlue opportunity to enter London.

https://www.reuters.com/article/us-thom ... SKBN1XI16S

LONDON (Reuters) - British budget airline easyJet (EZJ.L) has bought the take-off and landing slots of failed travel company Thomas Cook at London Gatwick and Bristol airports for 36 million pounds ($46 million), it said on Friday.

...

EasyJet acquired 12 of summer slot pairs and 8 winter slot pairs at Gatwick, plus six summer slot pairs and one winter slot pair at Bristol, in the deal.



If you'll pardon the American expression - JetBlue will need to get out its checkbook if it wants to fly to LHR/LGW.



Now did JetBlue even put an offer in? If they didn’t it kind of blows up the narrative huh?
How about you change it to easyjet bought slots full stop (if you will pardon the British expression)
 
Bluewho
Posts: 168
Joined: Wed Apr 10, 2019 12:58 pm

Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 5:58 pm

airbazar wrote:
jimbo737 wrote:
Who wouldn’t want LHR slots? But to acquire enough slots to develop a meaningful LHR schedule will be prohibitively and unrealistically expensive until (if), the third runway is built, and even then, they won’t come cheap or be handed out like Bed Bath and Beyond 20% off coupons.

Here we go again with the B6 is too poor to afford LHR slots :crazy:
Let entertain for a minute that they would get someone willing to sell them 5 slots pairs (3x JFK , 2x BOS), at 50 mil per slot pair, that's a total of 250 mil. You don't think an airline like B6 has the ability to easily come up with the funding for that? That the price of 2 A321neo's, for an airline that currently has 80 of those on order. They are also sitting on a Billion $ cash. (https://www.macrotrends.net/stocks/char ... sh-on-hand). Mind boggling how some people think.



Sure they could they just sold a bunch of debt and apparently it was a pretty successful undertaking. Again I’m not a fan of current management but they definitely have a solid finances
 
tphuang
Posts: 5346
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Re: EasyJet gets Thomas Cook LGW slots - not JetBlue

Fri Nov 08, 2019 6:20 pm

I am so confused why people thought JetBlue was going to make an offer here. They are over a year away from being able to offer flight there and that's if everything goes according to plan. Lgw slots aren't going to be hard to get given how many lcc are going belly up in Europe these days. Lhr is the prize here.

As for why they announced it at all. They can't keep this a secret once they exercised the option for 26 lr and xlr aircraft. They announced about as little as they could in that announcement.

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