The Communication, adopted on 30 April, finds that existing EU legislation on airport slot allocation does not prohibit so-called "secondary slot trading," bringing an end to years of discussion.
"Today we are recognising for the first time that secondary trading is an acceptable way of allowing slots to be swapped among airlines," said EU Transport Commissioner Jacques Barrot.
Previous legislation only allows for slots to be exchanged "one for one between air carriers," "without monetary compensation". But the vagueness of the rules has enabled certain airports, such as London's Heathrow – one of the most congested in the world – to put in place a sort of "grey market" for secondary slot trading.
While the situation has thus far given rise to a series of complaints and legal proceedings, "the Commission does not intend to pursue infringement procedures against member states where such exchanges take place in a transparent manner," according to the new Communication.
Indeed, the Commission believes that prohibiting such secondary trading causes the number of slots available to new entrants - and to incumbent air carriers seeking to extend their services - to be lower than it could be. "An air carrier may retain a slot even when its market value far exceeds the value that the air carrier generates from retaining and using the slots," it explains.
