Flybe has announced it is in talks over a possible sell-off of its slots at Gatwick.

It's believed that EasyJet is among the bidders for the 25 pairs of slots at Gatwick which could fetch as much as ?20 million for Flybe.

In a statement, Flybe has confirmed its board is "in discussions with a number of parties which MAY or MAY NOT lead to a transaction regarding the exchange for compensation payment of the Arrival and Departure Slots at Gatwick Airport."

It goes on to say that discussions are on-going and no decision has yet been made.

The news comes as the Tynwald Economic Committee looking into the Open Skies policy meets tomorrow (Wed) and hears evidence from Andrew Strong - MD of Flybe, Commercial Manager of easyJet Ali Gayward and former Manx Airlines boss Terry Liddiard.

The meeting is being held at 2.30 tomorrow (Wed) afternoon in the Legislative Council Chamber and it is open to the public.

Travelwatch isle of man says it will be watching developments, but has suggested if any sale does go ahead, it could have repercussions for the frequency of the Isle of Man- Gatwick service