Thu, Jun 13, 2002
Long
in financial trouble after what has been perhaps
optimistically called "privatization," the ATC system in
Britain may soon see millions of additional taxpayer pounds
sterling added to its bank account, to match "private" funds, and
keep the over-regulated system working, until the next cash
crisis.
NATS, 49%-owned by the government (yet called a "privatized"
enterprise by those who think the 46% airline ownership and 5%
actual "private" ownership makes it less-governmental), has been
losing money since Day One ("Part-Socialism Bad as The Whole Thing:
<<A class=_blank
href="http://www.aero-news.net/news/commercial.cfm?ContentBlockID=E1363689-E229-49E3-B5A4-2C6E48F3135C">STRONG>NATS
Bailout -- 'Private Ownership, Public Control' is Still Socialism,
and Still Doesn't Work").
Now, facing possible bankruptcy and still without
a workable (and government-approved) fee structure, Britain's ATC
system is prevailing upon taxpayer subsidies (£65 million) to
be matched by "airline contributions" (fare increases) of another
£65 million.
The only real problem is that NATS, under its present, and
foreseeable structures, won't break even, or ever pay the money
back.
Transport Minister David Jamieson and NATS chief executive Richard
Everitt confirmed what details are visible, when they addressed a
Parliament committee Tuesday. The airlines have agreed to their
£65 million, provided the MPs donate an equal amount of
taxpayer money.
As for a workable fee structure, it has yet to be determined. If
things continue as they are today, in other words, this £130
million could be gone soon, too; and another, similar problem could
become evident within less than a year.
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