All parties contributed to the Composite Solution in different ways and degrees

6 Assembling the Composite Solution required consistent progress to be made on five parallel fronts, each of which were major projects in their own right. The projects were:

■  A cost reduction initiative within NATS;

■  Implementation of the interim solution, a temporary working capital facility;

■  Identification and selection of a new corporate shareholder;

■  Extensive revisions to NATS' three major bank facilities for the Company's acquisition, working capital and capital investment; and

■  Negotiations between NATS and the Civil Aviation Authority following NATS' request for the relaxation of the caps on its prices and other changes in the regulatory framework.