Abstract
Air transport is a beleaguered and complex business, which barely survives at the best of times. The industry differs in its commercial practices due to its own particular nature and the manner in which it is treated by States and the commercial world. One of the paradoxes faced by the air transport industry is that, while on the one hand it has to be liberalized with wellmanaged open skies agreements, on the other, unrestricted air transport services that are operated untrammelled would add to the congestion at airports, bring to bear environmental issues, and pose problems for slot allocation. This article examines the general principles of slot allocation with a focus on Europe, through applicable treaties and regulatory recommendations of the International Civil Aviation Organization (ICAO). It also examines the trading of slots and legal nuances related thereto and makes concluding observations.
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