Flybe. (BE, Exeter International (EXT)) has reached a "conditional agreement" with easyJet (U2, London Luton (LTN)) to sell its entire portfolio of 25 slots at London Gatwick (LGW) for USD30million (GBP20million). In a statement, Flybe. said it would continue to operate all of the slots until March 29, 2014, during which time there will be no changes to flights, frequencies or timings to or from London Gatwick. The airline's Gatwick routes include: Belfast George Best City (BHD), Bergerac Roumaniere (EGC), Guernsey (GCI), Inverness (INV), Isle of Man Ronaldsway (IOM), Jersey (JER), Newcastle (NCL) and Newquay Cornwall (NQY). Flybe said proceeds from the deal, expected to be complete by July 2013, will be used to cut debts and for general working capital in addition to funding its turnaround plan dubbed the "Delivery and Future Direction" plan. As part of this plan, the airline has sold two of its Dash 8-400s and is deferring delivery of 16 EMB-175s until 2017-19 thereby cutting its winter 2013-14 pre-delivery payments by USD30milion. As a result of the cuts and sell-offs, Flybe. has now secured USD45million of its planned 2013-14 cost savings, exceeding its original USD37.5million target.

Ryanair (FR, Dublin International (DUB)) has thrown its hat into the ring with the announcement by company deputy chief executive, Howard Miller, that Ryanair would bid to acquire 25 Flybe. (BE, Exeter International (EXT)) slots at London Gatwick (LGW). The Irish LCC joins easyJet (U2, London Luton (LTN)) and several other unnamed carriers competing for the lucrative slots. Confronted with soaring fuel costs, falling passenger numbers and higher airport duties, Flybe has adopted tough new cost cutting measures which, aside from the Gatwick slot sale, includes the axing of about 10% of its 3'000-strong UK workforce; a move aimed at saving USD50million (GBP35million).

Flybe. (BE, Exeter International (EXT)) is reportedly in talks with easyJet (U2, London Luton (LTN)) among others to sell rights to landing slots at London Gatwick (LGW), a move which would allow easyJet to rapidly expand its at London's second largest airport. It is reported that Flybe.'s twenty-five slots, which include Belfast George Best City (BHD), Bergerac Roumaniere (EGC), Guernsey (GCI), Inverness (INV), Isle of Man Ronaldsway (IOM), Jersey (JER), Newcastle (NCL) and Newquay Cornwall (NQY), could fetch up to GBP20million altogether and would provide a much needed capital injection for the struggling regional carrier.

Links Air (LNQ, Humberside (HUY)) is due to launch flights from Oxford Kidlington (OXF) to Jersey (JER), Guernsey (GCI) and Belfast George Best City (BHD) using a Jetstream 31 in a move that has raised eyebrows in the aviation industry. Given the unsatisfactory loads Minoan Air (MAV, Heraklion Nikos Kazantzakis (HER)) has seen on its Fokker 50 flights out of Oxford to Dublin International (DUB) and Edinburgh (EDI), industry analysts have reasoned that, in order for Oxford-based flights to become viable in the long run, expansive advertising, coupled with the backing of a respected brand name along the lines of Loganair (LM, Glasgow Abbotsinch International (GLA)) with Flybe. (BE, Exeter International (EXT)) or Aer Arann Regional (RE, Dublin International (DUB)) with Aer Lingus (EI, Dublin International (DUB)), is needed in order to attract potential clients. Despite the airline's planned launch date of mid May fast approaching, Links Air's new website, its likely booking portal and information source, is still unavailable.

Ryanair (FR, Dublin International (DUB)) has immediately announced that it will appeal following the official announcement of the European Commission's decision to veto Ryanair's takeover offer for Aer Lingus (EI, Dublin International (DUB)) saying that the deal would lead to higher fares for Irish consumers due to a monopoly situation on 46 routes from Ireland. Ryanair had offered to transfer some aircraft, staff and routes to Flybe. (BE, Exeter International (EXT)) and to allow British Airways (BA, London Heathrow (LHR)) to acquire Aer Lingus' slots at London Heathrow in an attempt to get European Commission approval for the proposed acquisition. In other news, Ryanair has announced that it would cut its flights from Spanish airports by 12% from the end of March due to airport departure tax increases by Spanish airport authority AENA. As part of the cuts, Ryanair will pull out of Asturias (OVD) and Bilbao Sondica (BIO) completely. It currently serves Asturias from Barcelona El Prat International (BCN), Las Palmas Gran Canaria International (LPA), Madrid Barajas (MAD) and Tenerife Sur (TFS) and Bilbao from Barcelona, Dusseldorf Weeze (NRN), Las Palmas and Madrid. The route from Weeze to Bilbao will be transferred to Santander (SDR).