LOST CONTROL AT EWR COSTS UNITED MILLIONS

Posted on 07/14/2016 | About Newark, New Jersey

Losing near-monopoly control over Newark Liberty International Airport is going to cost United Airlines US $412 million, or $264 million after taxes. United had controlled 73 percent of the takeoff and landing slots at the New Jersey airport, a major hub for the carrier just a few miles from New York City.

But in April, the Federal Aviation Administration said that there will no longer be any restrictions on the number of flights allowed in and out of Newark, effective Oct. 30.
The Chicago carrier laid out how much that decision will cost it in a regulatory filing late Tuesday.
Lower cost carriers like Allegiant Air and JetBlue Airways have already announced new flights out of Newark, including some that go head-to-head with United. Discounter Spirit Airlines has also expressed interest.