Revision to NATS proposed business plan for upcoming price control
NATS En (Route) plc has today published a revision to its proposed business plan for NR23 covering the period 2023-2027.
To enable the Civil Aviation Authority (“CAA”) to undertake its review of the NATS En (Route) plc “NERL” business plan for NR23 with greater transparency for all stakeholders, NERL has today published an updated version of the business plan it first published on 7 February 2022. This update removes certain redactions incorporated in the 7 February version. No other changes have been made to the published plan. Publication by NERL of this increased level of detail, for example in relation its cost base over the near term prior to commencement of the NR23 period, should be considered as a one-off event associated with the requirement for transparency during the NR23 consultation, reflecting the unique circumstances faced as a result of the Covid-19 pandemic.
Cautionary statement regarding forward-looking statements
This plan contains statements that are, or may be deemed to be, ‘forward-looking statements’ with respect to NERL’s financial condition, results of operations and business and certain of NERL’s plans and objectives with respect to these items.
Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as ‘anticipates’, ‘aims’, ‘due’, ‘could’, ‘may’, ‘will’, ‘would’, ‘should’, ‘expects’, ‘believes’, ‘intends’, ‘plans’, ‘projects’, ‘potential’, ‘reasonably possible’, ‘targets’, ‘goal’, ‘estimates’ or words with a similar meaning, and, in each case, their negative or other variations or comparable terminology. Any forward-looking statements in this plan are based on NERL’s current expectations and, by their very nature, forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance and no assurances can be given that the forward-looking statements in this plan will be realised. There are a number of factors, many of which are beyond NERL’s control that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to: the Principal Risks disclosed in our latest Annual Report and Accounts (which have not been updated since the date of its publication); changes in the UK economy and the aviation market; and changes by the CAA in the regulatory framework in which NERL operates.
All written or verbal forward-looking statements, made in this plan or made subsequently, which are attributable to NERL are expressly qualified in their entirety by the factors referred to above. No assurances can be given that the forward-looking statements in this plan will be realised. This plan speaks as at the date of publication. Save as specified in the plan, NERL does not intend to update any forward-looking statements and does not undertake any obligation to do so.
Nothing in this plan should be regarded as a profits forecast.
Notes to Editors
For more information contact the NATS Press Office on 01489 615945 or email [email protected].
NATS is the UK’s principal air navigation services provider and is split into two main businesses, which provide two distinct services:
- NATS (En Route) plc (NERL) — the regulated business, which provides air traffic management services to aircraft within UK airspace and over the eastern part of the North Atlantic; and
- NATS (Services) Ltd (NSL) — the unregulated business, which provides air traffic control services at many of the UK’s major airports (13 civil and 7 military airfields) and other airports overseas.
NATS provides aerodrome, data, engineering, capacity, efficiency and environmental performance solutions to customers worldwide, including airports, airlines, air traffic service providers and governments.
NATS handled 661,000 flights in the UK in the last financial year (2020/21), a reduction of 73% reflecting Covid-19 travel restrictions.
For more information visit the NATS website at www.nats.aero