The transaction called Bealine PLC securitizing airport slots at Heathrow airport operated by British Airways (BA) relies heavily on BA's credit worthiness, Moody’s Investors Service analysts said in a conference call held yesterday.

Under the transaction, 31 take offs and landing slots at London Heathrow will be transferred from BA to British Airways Limited, which was set up just for this purpose. The analysts referred to the new BA unit as Air Carrier in the call.

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