Shake up for air traffic control
PART of the ownership of Britain's air traffic controller, Nats, could soon change hands as tour operators Thomas Cook and Tui explore a potential sale of their interest.
The pair, part of a sevenstrong consortium called the Airline Group, which also includes British Airways, Virgin Atlantic and easyJet, could share £120million by offloading their 12 per cent stake.
The group bought into Nats with a 42 per cent stake when it was privatised more than a decade ago, while the Government, which was previously mulling a sale of part of its holding before deciding to retain the strategic asset, is the biggest shareholder with 49 per cent.
It is understood the airlines group's adviser Rothschild has been instructed to find a buyer for the stake held by Thomas Cook and Tui, which do not see it as a core holding.
Interest is likely to come from pension funds, infrastructure investors and overseas air traffic controllers.
German air traffic group DFS has previously been mooted as a potential buyer.