Nats Profit 2008/2009
 

lOOK AT NATS.CO.UK £135.5 PROFIT

Delay seconds down.
Profits up.
Debt down.

Expect the 9% payrise to be confirmed along with more obscene bonuses for management.

Thank you very much Prospect.

PB Bonus - £235,000
 

Page 28 of NATS Annual accounts 2008/2009....Chief Exec accrued long term incentive bonus 2009 was £235,000.

See, he was right - a 9% bonus WAS a ridiculous statement ! Try 52% !!

***k ***k ***k!! i knew it!
company is in a difficult financial position, my ass.
i'm sorry there's too much financial instability for us to give you a properly funded pension, or a decent pay rise, but hey we're posting a great profit in a recession with decreased traffic, and bonuses will still be paid, so tea and cakes all round, infact make that champagne and caviar.
To those people who didnt vote in the pay ballot, for whatever reason, :ugh:
Mr.B must be laughing his ass off at us, but we deserve everything we've gotten from him.
:mad:

From Barron's statement;

"That the group has maintained safety standards, continued
to reduce air traffic delay and posted pre-tax profits of
£135.5m is an achievement of which the entire organisation
can be rightly proud. I would like to thank all of our employees
for working so hard to achieve these outcomes."

With a rubbish pay deal and a constant hammering down of T&C's resulting in lower morale.

Thanks :mad:

So profits up! Costs down...we get shafted yet again in a paydeal

but just to make everyone feel better

Page 28 of the reports and accounts
Paul Barron get a salary of £450K and bonuses of £220K ----- £670K
Since 2007 PB has received £685K in bonuses!

If you combine the executive directors bonuses these total is over £1.3m for the last 3 years

Thank you again to Prospect and the other unions for negotiating such a pathetic paydeal!

Well, look on the bright side - there's only a £69.4m pension deficit according to the Brothers Grimm accounts, not c. £800m as advertised during the pension MOU debacle. Oh wait, depends whose accounting rules we're using, right? :rolleyes:

Air Traffic Business Posts Year-End Results - NATS


NATS, the UK’s leading air navigation service provider, has reported a strong set of financial results for the year ended 31 March 2009. The group also maintained its safety record, provided customers with good operational service and continued to deliver on its critical investment projects.
NATS is focused on reducing its operating cost base in its en route business - from levels previously planned - by £45m in the next two years.( there goes our Terms and Conditions)http://images.ibsrv.net/ibsrv/res/sr...milies/eek.gif This will ensure that the charges for its economically regulated services for the period 2011 to 2015 are held as low as possible.



NATS Group profit before tax (£) wait for it........................



£135.5 Million http://www.nats.co.uk/uploads/PaulBarronNatsCoUk(1).jpg :ok:

Now, where are all those monkeys that voted yes?
Your'e fired! http://tbn1.google.com/images?q=tbn:...alan_sugar.jpg

http://www.bayjenweb.com/r/docs/2187...office_man.jpg

http://www.thisislondon.co.uk/standard-business/article-23712551-details/High-flying+profits+as+NATS+shrugs+off+the+downturn/article.do

High-flying profits as NATS shrugs off the downturn

http://i.thisislondon.co.uk/i/std/si...mund.urwin.gif Rosamund Urwin
26.06.09


Fliers may be grounded by the recession, but profits have taken off at air traffic controller NATS.
The part-Government owned group, in which seven airlines also hold a stake, said today pre-tax profits soared to £135.5 million in the year to the end of March from £66.7 million the previous year.
Revenues were up 3% to £767.3 million despite the company handling fewer flights.
The number of flights in UK airspace fell in the second half of its financial year as the downturn took its toll, but chief executive Paul Barron said the group benefited from cutting costs, renegotiating contracts, lower financing costs and linking its prices to inflation.
NATS was also boosted by the sale of the former Heathrow control tower, from which it pocketed £43.5 million. The company will distribute profits from the sale to shareholders as a dividend.
Lower traffic volumes helped the group reduce the average delay per flight for which it was to blame to just 19.3 seconds, from 26.8 seconds last year.

Somewhere around page 59 it states that Mrs PB received £129k for "work" approved by Ian Mills....but it gets better....last year she only got £76K!! £53K increase!!!

FFS the f***ing b*****d, I hope PB reads prune and see how much he is hated. :mad::mad::mad::mad::mad:

I want to break things.

Well there's a shock. Who'd have thought it. Barron shafts his staff again.

To all you people who voted YES, would you have done so had you know this before you cast your vote?

I cannot believe that the union organised the ballot to finish a week before this information was published. Why?!?!

An absolute disgrace. I am disgusted with the whole affair. £200m profit in two years, and after all the povert claims, threats of NATS going bust, we end up with 2% over two years.

I actually feel sick to my stomach that we have let management shaft us yet again, and basically thanked him for letting us keep our jobs.

Shocking.

Time to dump Prospect :mad: and PCS

And before any bleeding reps start ............I am one !!

I did give fair warning.... :uhoh:

I'm a rep too... I'm currently trying to decide between standing for higher office to sort them out, resigning my post and going back to the membership masses, or cancelling my sub and leaving completely.

On it's own, it's great to see our company still performing well in such tough times... but when you put it in context it's a horrific slap in the face for the employees - including the 100s told they dont have jobs anymore since we're so skint.

A serious question to you reps...why on earth was this pushed through by Prospect when the people at grass roots who have their fingers on the pulse, and who really matter, i.e local reps, were seemingly against it??? I just don't understand. I really think its time for a new Union or some form of change at the top level of Prospect....because this is just incompetence at worst.
A blind man could have seen this coming, but no, lets close the ballot a week before the financial results are announced.:ugh:

Angry, of Swanwick.

For the grass roots people, there can be no surprise that NATS posted record profits. We've been predicting it for months. There is also no surprise that these record profits have resulted in a derisory pay award for the majority of staff, whilst Barron and his cronies help themselves to obscene increases over the same period. Serious questions about the blindness of the Prospect BEC to these matters need to be asked.

Barron and his cronies did not come to save NATS, nor turn it into an ANSP to be proud of. They came to cut costs to the bone, increase profits, and then rape the company before moving off with their golden handshake to do the same to some other poor bunch of mugs. The sad thing is that we have all let him. Oh, and he also made sure that his own 'family' made a pile of money from us as well. Typical example of the greed which is prevalent throughout the UK government and those it appoints (like the Robber Barron).

For years those who have had doubts about Barron have been pilloried by the 'yes men' in NATS. In spite of pointing out his track record for screwing people, companies, and pensions in to the ground, the NATS 'yes men' assured us he was the saviour and would take us on to great things. Well, here's some news for you .... he is a serial offender. He's screwed us and will move on. Those who toadied to him and expected rewards, will also probably be screwed .. and hopefully for the rest of us, they will move on (via a P45).

Best not do any more bar stool session Mr Barron old chum. You're lower than a snakes belly.

Is it fair to assume then, that we will all shortly get an email saying that the freeze on selling our NATS shares has been lifted? Or is the £140mill not enough to fund that?
Give me strength.

Good luck to 'em at the top of the tree.

They knew exactly what they wanted to achieve, and they set out to get it - THAT'S THEIR JOB!

We are getting exactly the pay rises and terms and conditions we were prepared to fight for - YOU DON'T FIGHT, YOU DON'T GET.

I still can't figure out where all those YES votes ever come from, but I'd be genuinly interested in the views of any YES voters who feel they can still justify such a decision.

Remember boys and girls, the aaVa agreement has a large "V" in it - the solution is still in our own hands.

THe yes voters??? hmm let me see...how many atco's/senior managers still hold their prospect membership???? theres quite a few there for starters.....but at the end of the day when 29% can't be ars@d to mark an X and send back their forms it is asking for trouble.....bet after the last vote on pensions with similar numbers not voting management must have been confident on this one............ANYONE GOT ANOTHER UNION I CAN SUBSCRIBE TO?(SO I CAN COVER MY ASS IF EVER A DISCIPLINARY OCCURED) THIS ONE HAS SERIOUSLY FAILED ITS MEMBERS:{:{

DISGUSTING

As a hardworking member of staff I am truly disgusted.

Bad enough that my colleagues had the wool pulled over their eyes with the pension issue. I am lost for words that the pay cut was voted through and now we make hundreds of millions of profit.

Are the rumours true that NATS are not paying the extra into the pension to deduce the deficit?
If not, are they legally obliged to do so?