Golden share will not protect Gatwick slots

A GOLDEN SHARE arrangement would not guarantee the future of Guernsey's lifeline Gatwick slots if Aurigny were sold, according to a leading aviation lawyer.

As a purely contractual agreement, the understanding could be broken at any time, leaving the island in the lurch, he said.

Clyde and Co. partner and aviation specialist John Balfour said while the States could then claim damages, it would not be able to regain the slots.

However, prospective buyer Derek Coates vehemently disagreed with the solicitor's arguments, saying that all such points had been considered and the top lawyers in Guernsey were satisfied that the golden share was 'watertight'.

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