British Airways owner IAG has confirmed it is buying the majority of the Gatwick take-off and landing slots being sold by the administrators for fallen carrier Monarch.

IAG, which also owns Iberia and Aer Lingus, said the price it was paying was “commercially confidential”, although it is thought to have agreed a multi-million pound deal for the slots with KPMG, which took control of Monarch when it fell into administration in October.

In its statement on Monday, however, IAG said the slots would primarily be used to expand British Airways’ presence at Gatwick, increasing the frequency of flights and enabling it to fly additional routes from the airport.

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