According to this report in the Financial Times -
[
BAA will become a shareholder alongside the Airline Group, a consortium of seven UK airlines, which owns a 46 per cent stake and has management control.
Of each tranche of ý50m, only ý5m will be provided as ordinary share capital; the balance of ý45m will be invested as subordinated loan capital. This was chosen to guarantee BAA a return on its investment of about 8 per cent a year; the ordinary shares are unlikely to earn dividends for the foreseeable future.
So the BAA invest money, get a share of the ownership of NATS AND an 8% return on the money they invest. :o
If we invest 40 years working for NATS we are told all the airlines can afford is 2.2%
What a load of c***. The more we see it the more we get treated a second class citizens by our owners who are also our customers !!!
Time to stand up and tell them where to shove their 2 year deal and everything that goes with it.
Financial Times 22 June