Germans look to buy stake in NATS
Germany’s state-owned air traffic service Deutsche Flugsicherung hopes to buy a stake in its British counterpart, National Air Traffic Services reports the Daily Mail.
Last year Chancellor George Osborne said in his emergency Budget that the Government was ready to sell its 49 per cent stake in NATS, which could be worth more than £500million, to raise public funds.
NATS, which made a £106million profit last year, was part-privatised in 2001 by the Labour government despite fears that ‘privatising the skies’ could jeopardise safety.
A spokesman for Deutsche Flugsicherung said: ‘We can confirm that DFS has expressed an interest in acquiring the 49 per cent stake. We believe there could be good cooperation between us and the operational side of the business appears good.’
The Government has not yet approved any deal but DFS has reportedly also drawn up an ‘industry solution’ that would involve it investing alongside the Airline Group, which includes British Airways, easyJet, Virgin Atlantic and other airlines.
The group owns 42 per cent of NATS. Airport owner BAA owns 4 per cent and staff hold the remaining 5 per cent.
By Diane Evans
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