British Airways’ parent company IAG has acquired slots at Gatwick airport freed up by the demise of Monarch Airlines, according to the Press Association.

Media outlets including Reuters are citing “a source familiar with the situation” as saying that the airline group has secured the majority of the slots at the UK’s second busiest airport.

Last week it was reported that IAG was interested in using slots to launch flights from Gatwick under its new subsidiary level.

Other carriers including Easyjet, Norwegian and Wizz Air were understood to have been keen to acquire slots at the south London airport.

Business Traveller will update this story as more information becomes available.