Nats execs collect bonuses, flight delays soar
Bosses at National Air Traffic Services (Nats) have reaped substantial bonuses, despite losses of almost £110m witnessed during the past two years.
In its annual report, Nats said it was working hard to end the financial haemorrhaging losses. This is its second loss since part-privatisation.
Chief executive Richard Everitt received a bonus of £54,000, bringing his salary for last year to £385,000.
Colin Chisholm, chief operating office, and Nigel Fotherby, finance director, pocketed £43,000 a piece, taking individual total pay to £200,000.
UK airlines aren’t expected to be happy about the news. A consortium of firms including British Airways, easyJet and Virgin Atlantic, invested £765m in the service, taking 42% control.
The Government owns 49 per cent, four per cent by BAA and five per cent by staff.
Following part-privatisation flight delays soared 57%, as Nats had to deal with the effects of the September 11th terrorist atrocities. Air traffic slumped worldwide in 9/11’s immediate aftermath.
Nats cannot stand on its own feet at present. It needed £130m of extra funding earlier this year, half of which came from the taxpayer. It has been labelled in some parts as the “Railtrack of the Skies.”
Average delay per flight rose 2.2 minutes in the last year from 1.8 minutes the previous year and 1.4 minutes the year prior to part-privatisation, Nats confirmed.
