Collapsed airline Monarch has won an appeal against a court decision that had stripped it of rights over valuable airport slots, in a boost to administrators who are hoping to recover money for creditors.

Administrators at KPMG hope to raise capital by transferring the slots at London’s Gatwick and Luton airports to other airlines. The High Court’s initial ruling on Nov. 8 said that as the airline had no planes and retains just three trained pilots, who currently hold management positions, the Airport Coordination Limited (ACL) — an independent slot coordination company — had no duty to assign it slots for summer 2018. The CAA subsequently revoked Monarch’s operating licence. (Reuters)