NATS Arranges £130m Bailout | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.01.24

Airborne-Unlimited-04.16.24

Airborne-FlightTraining-04.17.24 Airborne-Unlimited-04.11.24

Airborne-Unlimited-04.12.24

Join Us At 0900ET, Friday, 4/10, for the LIVE Morning Brief.
Watch It LIVE at
www.airborne-live.net

Thu, Jun 13, 2002

NATS Arranges £130m Bailout

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.

FMI: http://www.nats.co.uk

Advertisement

More News

ANN's Daily Aero-Linx (04.15.24)

Aero Linx: International Flying Farmers IFF is a not-for-profit organization started in 1944 by farmers who were also private pilots. We have members all across the United States a>[...]

Classic Aero-TV: 'No Other Options' -- The Israeli Air Force's Danny Shapira

From 2017 (YouTube Version): Remembrances Of An Israeli Air Force Test Pilot Early in 2016, ANN contributor Maxine Scheer traveled to Israel, where she had the opportunity to sit d>[...]

Aero-News: Quote of the Day (04.15.24)

"We renegotiated what our debt restructuring is on a lot of our debts, mostly with the family. Those debts are going to be converted into equity..." Source: Excerpts from a short v>[...]

Airborne 04.16.24: RV Update, Affordable Flying Expo, Diamond Lil

Also: B-29 Superfortress Reunion, FAA Wants Controllers, Spirit Airlines Pulls Back, Gogo Galileo Van's Aircraft posted a short video recapping the goings-on around their reorganiz>[...]

ANN's Daily Aero-Term (04.16.24): Chart Supplement US

Chart Supplement US A flight information publication designed for use with appropriate IFR or VFR charts which contains data on all airports, seaplane bases, and heliports open to >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC