Air traffic staff to get shares
Wednesday 21 October 1998
The windfall could be worth about pounds 20,000 for each of the 5,150 employees of National Air Traffic Services (Nats). The Government wants to sell off 51 per cent of the business to the private sector. This is expected to raise pounds 1bn.
In a consultation document published yesterday, the Department of Transport said it plans to offer to the employees up to 10 per cent of the shares being put up for sale, but did not specify whether they would be free shares or whether staff would have to buy them.
The document went some way to reassuring staff about their future if the Public/Private Partnership (PPP) goes ahead in the face of stiff opposition from trade unions.
The Government said it "wished" to see existing contractual terms and conditions of employment maintained after the PPP. "It is recognised that the Government's proposal is causing uncertainty among the staff," it said. The Government is also looking for industry views on a plan to set up a statutory regulator for Nats to control the prices it can charge and ensure the quality of service delivered, on similar lines to those imposed on other privatised monopoly utilities.
The Government believes the PPP would allow Nats to raise private capital, pursue commercial ventures and become more efficient. However, according to reports, ministers are considering scrapping the plan because of the political controversy and over fears that the new pounds 350m control centre in Hampshire, which is crucial to the future of Nats, is falling far behind schedule.
Nats' parent, the Civil Aviation Authority, is expected to announce soon, perhaps to- morrow, that the scheme will not be ready until 2000. John Reid, a Transport minister, faces tough questions today over the centre when he gives evidence to the Commons Transport Select Committee.
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Nick Kyrgios calls former Olympian Dawn Fraser a 'blatant racist' after she tells Wimbledon star to 'go back where their parents came from'
- 3 World learns of app that shows you who unfriended you on Facebook, app promptly crashes
- 4 Chris Moyles reportedly set to make radio comeback with new breakfast show on XFM
- 5 The Greece debt crisis explained in less than 100 words
Florida man sentenced to two-and-a-half years for having sex on the beach in front of a child
Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
Man who was struck and killed by lightning in Brecon Beacons 'was carrying a selfie stick'
Greece debt crisis as it happened: EU chiefs at loggerheads hours before Alexis Tsipras’s last ditch deal proposals
Florida teacher sentenced to 22 years in prison for sexually abusing three pupils
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
£23000 - £27000 per annum: Recruitment Genius: A Business Analyst is required ...
£16000 - £23000 per annum: Recruitment Genius: To succeed, you will need to ha...
£8 per hour: Recruitment Genius: This is an opportunity to join an award winni...
£7 - £9 per hour: Recruitment Genius: Are you outgoing? Do you want to work in...