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 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 2 Orange Is The New Black has not been cancelled – it was a hoax
- 3 Why I'm on the brink of burning my Israeli passport
- 4 Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
- 5 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
Pope Francis: ‘One in 50’ Catholic priests, bishops and cardinals is a paedophile
Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Supermoon 2014 in pictures: Moon appeared bigger and brighter at the weekend
Saharan remains may be evidence of first race war, 13,000 years ago
Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
Emergency data law: David Cameron plots to bring back snoopers’ charter
NUT strike: David Cameron announces crackdown on strike action ahead of mass industrial action
£550 Per Day: Clearwater People Solutions Ltd: Our client based in Walthamstow...
£40000 - £50000 per annum + competitive: Progressive Recruitment: This excitin...
£30000 - £40000 per annum + bens: Deerfoot IT Resources Limited: PHP Developer...
£27,000-£34,000 per annum: US Embassy: An office of the US Embassy based in Be...