NATS up for sale ?
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Originally Posted by the 'Times' online edition, today 9th of July:
BRITISH AIRWAYS, Virgin Atlantic and five other British airlines have put up for sale their controlling stake in National Air Traffic Services, the company that provides air-traffic control in the UK.
Originally Posted by 'Hansard' quoting Lord Macdonald of Tradeston:
In the Airline Group we have selected a preferred bidder who will help us achieve all our objectives from the PPP, and who will bring their expertise and commitment, as users, to this partnership--a commitment that includes commitment to a high standard of safety. After all, who has greater interest in robust safety management than air users who depend on the provision of safe and efficient services? They will provide the management capability and investment to ensure that NATS can continue safely to meet the growing demand of air travellers in the future. They will also introduce appropriate management skills to NATS while maintaining good industrial relations. The Government look forward to working with the Airline Group to provide a highly successful future for NATS through a true partnership between the public and private sectors. I beg to move.
Again,
....Some revision required? See... http://www.nao.gov.uk/publications/n...2/01021096.pdf
Last edited by rab-k; 9th Jul 2006 at 13:49.
(message there maybe)
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Maybe they found out the same way as the rest of us,reading the papers.They used to say that the Russians would attack at the weekend,when the RAF were in the pub.Looks like someone was rattled up quick to write something before Monday.Good show chaps
From a report in the Daily Mail, it would seem it's actually Mytravel trying to solve its money problems by cashing in on NATS profits! Virgin have said that they and the other scheds still want to own NATS.
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Selling UK NATS
http://iccheshireonline.icnetwork.co...name_page.html
Airlines 'set to sell air traffic control'
Jul 10 2006
Daily Post
THE future of air traffic control in the UK was plunged into doubt yesterday amid reports that a number of airlines planned to sell their stake in National Air Traffic Services in a highly controversial move.
A Sunday newspaper said members of The Airline Group, which is made up of British Airways, Virgin Atlantic, BMI British Midland, easyJet, MyTravel Airways, Monarch and Thomsonfly, were looking at offloading the group's 42% share of Nats it acquired in 2001.
The plan needs the backing of six of the seven airlines.
It is thought the sale is being pushed by the three charter airlines, MyTravel, Monarch and Thomsonfly, as they look to cash in on the high level of demand for infrastructure businesses.
The airlines paid around £6.6m each for an equal 6% share of Nats but could now fetch up to £36m each.
Virgin director of communications Paul Charles said: "We are not selling our stake." Mr Charles said, if the other airlines did decide to sell, Virgin would consider buying their shares.
British Airways said the report was "speculation" while MyTravel and BMI declined to comment. Monarch, Thomsonfly and easyJet were unavailable.
Airlines 'set to sell air traffic control'
Jul 10 2006
Daily Post
THE future of air traffic control in the UK was plunged into doubt yesterday amid reports that a number of airlines planned to sell their stake in National Air Traffic Services in a highly controversial move.
A Sunday newspaper said members of The Airline Group, which is made up of British Airways, Virgin Atlantic, BMI British Midland, easyJet, MyTravel Airways, Monarch and Thomsonfly, were looking at offloading the group's 42% share of Nats it acquired in 2001.
The plan needs the backing of six of the seven airlines.
It is thought the sale is being pushed by the three charter airlines, MyTravel, Monarch and Thomsonfly, as they look to cash in on the high level of demand for infrastructure businesses.
The airlines paid around £6.6m each for an equal 6% share of Nats but could now fetch up to £36m each.
Virgin director of communications Paul Charles said: "We are not selling our stake." Mr Charles said, if the other airlines did decide to sell, Virgin would consider buying their shares.
British Airways said the report was "speculation" while MyTravel and BMI declined to comment. Monarch, Thomsonfly and easyJet were unavailable.
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Prospect's 'ATCO & ATSS Branch Briefing' landed today and goes as far as saying that ('scuse the PPRuNe quote device but it stands out better...):
As usual, the mere press speculation line being spun elsewhere re. this matter falls well and truly into the 'well he would say that, wouldn't he' category.
Originally Posted by Prospect
Our understanding is that the press coverage goes beyond mere speculation and that the Airline Group are considering appointing a 'financial advisor' in order to to develop options for a potential sell off.
