2.7 The prospect that the Government would be asked to make an additional investment in NATS emerged soon after the events of September 11th. The Company stated in December that its shortfall in funds, until the end of 2005, would be between £235 million and £434 million, depending on future trends in traffic, and that to provide a realistic cushion against future shocks as well implied a total requirement for some £600 million over that period. After finding some £200 million of savings internally, and assuming that the CAA would deliver some £100 million through increased prices, NATS estimated that this left a sum of around £300 million to be contributed by shareholders, including the government, in the form of additional equity or quasi-equity.