eglnyt
NATS can't go bust, there are clauses in the transport bill to make sure it can't. If NATS is unable to pay its bills the courts are required to make an "Air Traffic Administration Order" (apologies for incorrectly calling it Aviation Administration above). This would effectively nationalise NATS at no cost to the Government. The Railway privitisation legislation contained similar clauses which were used to bring Railtrack back into public ownership.
That may seem an attractive proposition to some but do we really understand what that means to NATS staff particularly those not directly involved in the NERL Licence ? You may not like the current management but they have some vested interest in the future of NATS and hopefully in the last few years they've learnt a bit about the company. Do you really think an accountant appointed by the Secretary of State will be better ? Our pension curently enjoys some protection afforded to it by agreements made during the privitisation process, what status do those agreements have if an Air Traffic Administration Order is raised ?
TRANSPORT ACT 2000
SCHEDULES
Section 30.
SCHEDULE 1 Air traffic administration orders: general
Supplementary provisions of schemes
9 (1) A scheme may contain supplementary, consequential and transitional provision for the purposes of, or in connection with, any provision of the scheme.
(2) In particular a scheme may provide—
(e) that contracts of employment with the existing licence company are not to terminate and that periods of employment with the existing licence company are to count for all purposes as periods of employment with the new licence company;
Transport Act 2000 (c. 38)
Our pension forms part of our contract of employment so the wording of the act indicates that in the event of NATS going bust our final salary scheme must be guaranteed by the new owners...HMG.