I, and I think every other operational member of NATS, was under the impression that the airline group received a piece of NATS for a relatively small cost on the understanding that it was a not for profit investment, but to ensure that NATS continued to provide the sterling service it always has.
In effect the 'dividend' to the airlines was the continued high standard of service. In fact part of the condition of allowing PPP was that airlines were to be invited so that they had an interest in the business (because it was, for want of a better phrase, in their interest).
The rest, including £50million dividens etc is smoke and mirrors. The existing pension is doomed - a situation manufactured by management.
To date the return on their investment falls far short of what might be described as a commercial return as very little in the way of dividend has been paid since PPP
A statement that could only come from the mouth of someone who is non-operational who does not understand what benefit good ATC is to airlines.
The airlines bought into PPP to ensure the maintenance of one of (if not the) best service providers. They receive a 'dividend' every day... Their investment is not about monetary dividends - it's about the continued work that NATS does at the coalface to reduce delays and provide shortcuts and in the back offices - re-designing airspace and procedures to benefit airlines. For example isn't that what the much vaunted AMAN was supposed to be about - reducing time in the hold and slowing down en-route, thus reducing fuel costs? How much money do you think airlines save by virtue of the fact that NATS does it's job well and strives to make changes to keep improving an already gold plated service??? Just because it is not shown by handing over big fat cheques, the airlines are benefitting...
Jobs in NATS are still going (some quite rightly) despite voting to change the pension.
Where are all the people now who said 'vote yes, save jobs' just 3 months ago???
We have weakend any power the workforce had and have given management the green light to screw us over in the future.
Good work people.