Deutsche Flugsicherung plans bid for Nats stake
Germany’s state-owned air traffic service Deutsche Flugsicherung (DFS) is planning a bid for a stake in Nats, the part-privatized company that runs the U.K.’s air traffic control service. DFS has asked investment banks in London to tender for an advisory role in a potential bid. George Osborne said last year that the government would sell its 49% stake but little has happened since. GIP is also interested.
By London Bureau (MarketWatch)
LONDON – Germany’s state-owned air traffic service Deutsche Flugsicherung (DFS) is planning a bid for a stake in Nats, the part-privatized company that runs the U.K.’s air traffic control service, The Sunday Times reports without citing sources.
The paper said DFS has asked investment banks in London to tender for an advisory role in a potential bid.
The Chancellor of the Exchequer George Osborne said last year that the government would sell its 49% stake but little has happened since.
The Airline Group, which includes British Airways, easyJet PLC , Virgin Atlantic and other airlines, owns 42%, while airport operator BAA has a 4% stake. The remaining 5% is owned by staff.
The paper said Airline Group recently decided to hold onto its stake.
Neither Nats nor DFS could immediately be reached for comment.
Germans plot air traffic swoop
The foreign bidder Deutsche Flugsicherung is preparing an offer for a stake in Britain’s airways after George Osborne’s decision to sell up
The Sunday Times says that German Deutsche Flugsicherung (DFS), Germany’s state-owned air traffic service, is bidding for a stake in NATS, the UK Air Traffic control service.
The UK government owns a 49% stake in NATS and has done so for around 10 years. It now wants to sell this off. The stake in NATS could be worth around £500 million. There will be others also bidding for it including GIP, which owns Gatwick. NATS made a profit last year.
DFS is keen to get better consolidation of European air traffic control.
Budget 2011: Government to reduce stake in Nats air traffic control business
23.3.2011 ( Guardian)
Treasury confirms plan to reduce 49% stake in Nats amid warnings from airlines
of ‘highly damaging’ consequences
The national air traffic controller has joined the Channel tunnel rail link on the state auction table as the government pushed on with its asset disposal plans. The budget confirmed plans to further reduce its 49% stake in Nats, the business it co-owns with 7 UK airlines and airport operator BAA. However, government sources said no decision had been made on the scale of the stake sale. (Guardian)
Budget 2010: Air traffic control organisation Nats to be sold off
Treasury in talks to fellow shareholders about selling off its 49% stake in Nats
air traffic control service
by Dan Milmo
George Osborne announced in the budget that the Treasury is to open discussions with fellow shareholders in NATS (National Air Traffic Services) over selling its 49% stake. Nats is 42%-owned by a consortium of airlines including easyJet, BA and Virgin Atlantic, with 5% controlled by staff and 4% owned by BAA. EasyJet is opposed to the sale, if it put profit before running an efficient service. The union of air traffic controllers is opposed. (Guardian)