UK AIRLINES AGAINST GOVERNMENT SELLING ATM STAKE

Dino D'Amore
By Dino D'Amore February 7, 2011 14:17

UK AIRLINES AGAINST GOVERNMENT SELLING ATM STAKE

The Airline Group, a consortium of British airlines which owns 42% of the UK air-traffic control system NATS, has voiced its reluctance for the government to reduce its dominant stake below 25%. The UK government currently controls a 49% stake in the air-traffic control system NATS but is seeking to sell off a portion to help the country reduce its debt burden.

In a letter to UK transport minister Philip Hammond, the Group’s chairman Peter Read warned a reduced government stake in NATS would weaken national influence over European Union air traffic policy, which would free France, Germany and Spain to decide the future of the air traffic control industry, and would be highly damaging.

The UK Department for Transport said that no decision has yet been taken for a full sale and a decision would be made by the time of its budget, set for March 23.

Dino D'Amore
By Dino D'Amore February 7, 2011 14:17
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