Cyprus Airways has agreed to sell its Heathrow airport slot to Middle East Airlines, a company press release says.

According to the press release, published on Thursday on the Cyprus Stock Exchange website, the two companies reached agreement on March 10, for the amount of 6.3 million euro.

It is noted that the slot’s sale is included in the company’s restructuring plan which has been submitted to the European Commission.

The agreement provides that as of March 25 2014, Cyprus Airways will fly to and from Heathrow airport in London on a daily basis.

Flights will depart from Larnaca at 1000 hrs local time and will arrive in London at 1305 hrs local time while they will take off from London at 1425 hrs and arrive in Larnaca at 2100 hrs.