Comment Re:FUBAR (Score 1) 117
No government involved. Unlike most US airports, Heathrow is a purely private company. Slots are sold to airlines as a purely commercial transaction, with a long waiting list. (And, no, they wouldn't be auctioned off in some sort of unregulated capitalist environment: every company has to build a relationship with its customers if it wants to keep them as customers, so taking slots away from airlines, or trying to charge them more for slots would drive airlines to competitor airports, such as Gatwick. We assume Heathrow has worked out the highest price it can charge which airlines which make them a lot of money in other fees are willing to pay).
Heathrow doesn't want slots owned but no plane using them (because they make money from aircraft actually using the airport) so airlines which own slots are highly incentivised to make sure they are used, even if they are making no money from the flight.