Government to cut its stake in UK air traffic control firm
05.12.09
Plans to reduce the Government's stake in the firm that operates British air traffic control are to be unveiled on Monday, Sky News reports. Sky's City editor Mark Kleinman said: ‘The Government is going to signal its intention to reduce its shareholding in the company. [This] is significant because it would mean the private sector potentially owning a controlling stake in it for the first time.’
The firm, NATS, provides air traffic control services at 15 of the UK's biggest airports. It also performs ‘en-route’ services for aircraft flying through British airspace. Mr Kleinman said: ‘At the moment, the Government owns 51% of NATS and most of the rest is owned by a group of airlines, including BA and Virgin Atlantic.'
‘The announcement is going to form part of a big pre-PBR push on Whitehall efficiency announced on Monday called 'Smarter Government'. It will include an update on the sale of assets, such as the Tote, NHS Professionals and a big student loans portfolio.’
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