Fight for air traffic control
A UK pension scheme for academic high flyers is aiming for take-off by winning the battle to invest in Britain’s air traffic controller.
The Universities Superannuation Scheme is vying with Germany’s Deutsche Flugsicherung for a 20.5 per cent stake in National Air Traffic Services (Nats).
The Government is the biggest shareholder in Nats with 49 per cent. Another 42 per cent is owned by the seven-strong Airline Group consortium. Four of its members – Thomas Cook, Tui, Lufthansa and Virgin Atlantic – are selling down about 5 per cent each. The other members – BA, Monarch and easyJet – will maintain their stakes.
A preferred bidder for the £200million stake could be announced in the next few days.