Delta and USAir are swapping slots at Washington’s Reagan and New York’s LaGauardia. In exchange the FAA is requiring that both airlines free up 8 slots at Reagan and 16 at LaGuardia. The slots will then be auctioned off by the FAA in bundles to allow discount airlines with limited or no access to those airports to buy enough slots to maintain more than bare bones service. The auction lets the newbies with who want the slots most badly to bid the highest! Bring on competition!