Cash for NATS?
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Joined: Jun 2000
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Cash for NATS?
Initially thought this was a decent story, but on second read it's a bit wishy washy. Anyway - it's got links to other NATS stories from different sources other than BBC/ITN
HEADLINE: More taxpayer money to be pumped into NATS
PUBLISHED: 3:10pm on Wednesday 12th June 2002
CHANNEL: Government & law
AUTHOR: Kate Hanaghan
SERVICE: http://www.silicon.com
TEXT OF STORY FOLLOWS:
Come fly with me...
The Department of Transport has confirmed it will plough millions more into the nation's air traffic control system to prop it up its flagging operations.
The UK government owns just over half of NATS, with a consortium of airlines and employees owning the rest.
The organisation hit severe difficulties following the slump in air travel after 11 September. This problem was compounded by a catalogue of computer system errors.
Last month, a glitch during a software upgrade at its Swanwick headquarters caused misery for thousands of holiday makers stranded at European airports.
NATS is currently surviving on a loan of £60m from its shareholders which should keep the company afloat until September.
But the government has now said it will give even more cash - matching any amount raised by NATS and BAA.
Whitehall is now in talks with these organisations to establish how much funding is required and has until financing runs out to decide.
Although a spokesman for the Department of Transport would not be drawn on the amount the government would donate, reports in the Daily Mail citing a transport select committee meeting, suggest the sum could be anything up to £65m. This means NATS could in theory receive £130m in total.
A NATS spokesman also refused to be drawn on any figure but added the company is looking for another equity partner and is currently in talks with a number of entities.
For related news, see:
Confusion at 20,000 feet: Typeface to blame
http://www.silicon.com/a53548
Software glitch hits UK flights
http://www.silicon.com/a53423
Computer crash grounds UK flights
http://www.silicon.com/a52571
NATS gets cash reprieve
http://www.silicon.com/a 51457
HEADLINE: More taxpayer money to be pumped into NATS
PUBLISHED: 3:10pm on Wednesday 12th June 2002
CHANNEL: Government & law
AUTHOR: Kate Hanaghan
SERVICE: http://www.silicon.com
TEXT OF STORY FOLLOWS:
Come fly with me...
The Department of Transport has confirmed it will plough millions more into the nation's air traffic control system to prop it up its flagging operations.
The UK government owns just over half of NATS, with a consortium of airlines and employees owning the rest.
The organisation hit severe difficulties following the slump in air travel after 11 September. This problem was compounded by a catalogue of computer system errors.
Last month, a glitch during a software upgrade at its Swanwick headquarters caused misery for thousands of holiday makers stranded at European airports.
NATS is currently surviving on a loan of £60m from its shareholders which should keep the company afloat until September.
But the government has now said it will give even more cash - matching any amount raised by NATS and BAA.
Whitehall is now in talks with these organisations to establish how much funding is required and has until financing runs out to decide.
Although a spokesman for the Department of Transport would not be drawn on the amount the government would donate, reports in the Daily Mail citing a transport select committee meeting, suggest the sum could be anything up to £65m. This means NATS could in theory receive £130m in total.
A NATS spokesman also refused to be drawn on any figure but added the company is looking for another equity partner and is currently in talks with a number of entities.
For related news, see:
Confusion at 20,000 feet: Typeface to blame
http://www.silicon.com/a53548
Software glitch hits UK flights
http://www.silicon.com/a53423
Computer crash grounds UK flights
http://www.silicon.com/a52571
NATS gets cash reprieve
http://www.silicon.com/a 51457
