Aegean Airlines has bought four London Heathrow and Charles de Gaulle slots from Olympic Airlines.
The news comes shortly after Olympic’s announcement that it will pull out of the two airports from March 27.
The price paid for the slots has not been revealed, but Aegean did issue a statement saying “slots in heavily congested airports in Europe have economic value as they can be used from any destination”.
Aegean plans to use the Heathrow slots to launch daily flights to Larnaca in Cyprus. It will base three of its A320 aircraft in Larnaca to serve the new route.
Dimitris Gerogiannis, Aegean’s managing director said: "We always move forward with carefully measured steps, especially in these extremely difficult times.
“Our presence in Cyprus has matured to the point that we can offer direct flights to more destinations in Greece, but also for the first time to the biggest European destination, London.”