Southwest Airlines is headed to the Big Apple for the first time.
The Dallas-based carrier will pay $7.5 million for 14 slots at LaGuardia airport held by defunct codeshare partner ATA Airlines.
Currently, Southwest serves the New York City metro area from Long Island MacArthur Airport in Islip, roughly 50 miles (80.5km) east of Manhattan.
Service cannot start until the transaction is finalized in March, a Southwest spokeswoman says, adding a launch date has not been set.
The low-cost carrier will purchase ATA outright to gain the slots; Southwest stresses it has no plans to operate ATA or acquire any of the carrier's aircraft, facilities or employees.
ATA filed for Chapter 11 and ceased operations in April.