UK Government to Sell Stake in NATS

9 June 2010 (Last Updated June 9th, 2010 18:30)

The UK Government could sell half of its stake in British air traffic control operator National Air Traffic Services (NATS) as part of its efforts to cut the country's record deficit. NATS chairman Peter Read said that the government can sell 25% and retain 49% of its stake or sell it a

The UK Government could sell half of its stake in British air traffic control operator National Air Traffic Services (NATS) as part of its efforts to cut the country's record deficit.

NATS chairman Peter Read said that the government can sell 25% and retain 49% of its stake or sell it all.

Read said seven airlines, including British Airways, easyJet, Lufthansa-owned BMI, Virgin Atlantic, Thomas Cook, TUI Travel and Monarch Airlines, are also expected to reduce their shareholdings under the Airline Group title.

The Airline Group controls 42% of NATS and the remaining 9% is held by airport operators and staff.

Read expects the sale to raise £700m for the government.