The system for allocating airport slots is broken

YOU may think that an airline’s most valuable asset is its planes. But with Monarch, Britain’s fifth-biggest carrier, which went bust in October, creditors were keenest to claim slices of airspace at particular times of day. Monarch’s landing and take-off slots at British airports are a big enough prize to have caused a court battle. That is a sign of how much the system for allocating them harms competition and consumers.