Riyadh Air plots Heathrow expansion [Yahoo! Finance Canada]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Yahoo! Finance Canada
The Saudi Arabian start-up is targeting expansion at Britain's biggest airport as part of its ambitious growth plans, having launched flights between Riyadh and London last month. Currently, it has enough space to operate only one daily service to Heathrow. However, Tony Douglas, Riyadh Air's chief executive , said he hopes to secure more slots by paying rival airlines a premium to sell up. He said: “We want more access to Heathrow; that goes without saying. We want to do a lot more than just one rotation a day. “This is all about where the money is, unashamedly. I'm not doing it because I've got a British passport. It isn't romantic. We're not looking just to serve nice-to-have destinations. “We're following the money and the demand.” The going rate for slots at Europe's busiest airport, which has been operating close to the limits of its two runways for years, is a well-guarded secret. However, in the most recent publicised transaction, Oman Air paid $75m (£57m) for a p
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