Term | Meaning |
An incident reported by a pilot or controller in which standard minimum separation distances between aircraft have been breached. A risk-bearing airprox is one where the UK Air Proximity Board considers there was a potential risk of collision. | |
Classification of airspace into various categories of controlled and uncontrolled airspace, such as main airways and control zones, firing ranges or fighter exercise areas. Deciding on the geographical extent of these areas, and where necessary on when they should be in operation. | |
The time from when an aircraft has joined the pre-set route of descent into an airfield until it comes under the control of the airfield for landing. | |
An air traffic control centre that controls air traffic in the en route phase of flight prior to descent into the terminal area and approach to the destination airport. | |
A unit of Eurocontrol, based in Brussels, which helps to regulate the flow of aircraft in overcrowded areas of European airspace, for example by instructing air traffic control authorities to delay departures from airports. | |
The method of en route charge determination used by all Eurocontrol member states except the UK. It was also used by NATS before the start of the PPP. Under cost-plus charging, air traffic control authorities are allowed to recover all their en route air traffic control costs, as well as any related interest costs. Depreciation of assets can also be charged for, provided the assets concerned are operational. | |
A committee of senior bank officials whose approval is normally required before a bank will agree to make a loan. | |
Credit Suisse First Boston, the financial advisers to the Department of the Environment, Transport and the Regions. | |
Room where shortlisted bidders could access all the information they required for due diligence on NATS. There were actually three data rooms, one for each shortlisted bidder. | |
The process through which a party to a proposed transaction, such as a business acquisition, investigates in detail the risks associated with it. | |
The Department for Transport. Name of the vendor Department. Formerly the Department of the Environment, Transport and the Regions (1997-2001) and Department of Transport, Local Government and the Regions (2001-2002). | |
Aircraft flying in controlled airspace under the control of a NATS area control centre. | |
Enterprise Value is based on earnings of the business before interest, tax, depreciation and amortisation, and also taking the debts of the business into account. | |
The European agency for the safety of air navigation, based in Brussels. | |
Publication issued by the Department and its advisers to potential bidders, describing the activities and finances of NATS. | |
A high level of credit quality with a low risk of default. Specifically, a rating of BBB or above conferred by Standard and Poor's, or Baa and above by Moody's Investor Services. | |
Controllers, pilots, aircraft maintenance engineers, telecommunication engineers and aerodrome licensees must by law file a Mandatory Occurrence Report if they think an incident has taken place that might have threatened safety. | |
National Air Traffic Services Ltd | |
The unregulated subsidiary of NATS which provides air traffic services to airports and consultancy services to customers worldwide. | |
A private company that has no shareholders. The lack of shareholders means that profits are recycled to pay debt, finance capital expenditure or reduce prices. All capitalisation is in the form of debt. "Members", usually key stakeholders interested in the success of the business, appoint the Board of Directors, approve corporate by-law changes and appoint auditors. | |
Public Private Partnership between the Government and a private sector strategic partner. | |
Debt that has first call on the cash of the borrowing business when due for repayment. | |
An initiative by the European Union to rationalise air traffic control in Europe, by standardising procedures, improving co-operation between different national air traffic control services, and eventually reducing the number of different ATC providers. | |
Holding areas used at times when airports are busy. Incoming aircraft arrive at the top of a stack (located by a radio beacon) and circle downwards until they can be taken from the bottom of the stack to complete their airport approach. | |
The agreement between the two main shareholders in NATS; the Department and the Airline Group |