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Wizz Buys Norwegian Slots at Gatwick to Boost U.K. Business

  • Adding London flights will help the discounter take on rivals
  • Slots could be worth as much as $45 million, says DNB Bank
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Discount carrier Wizz Air Holdings Plc will increase its presence in the U.K. after agreeing to buy takeoff and landing slots from Norwegian Air Shuttle ASA at London’s Gatwick hub.

Budapest-based Wizz will acquire 15 daily slot pairs at Gatwick, where operations are restricted by a single runway, allowing it to increase its number of jets there from four to five, according to a statement on Wednesday. While no sale value for the slots was given, DNB Bank ASA estimates that they are worth 300 million-400 million Norwegian krone ($34 million-$45 million) at current prices.