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A Financial Analysis of the National Air Traffic Services PPP

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  • Jean Shaoul

Abstract

The collapse of the National Air Traffic Services (NATS) Public—Private Partnership (PPP) raises questions about the rationale, appraisal and risks of the Government's partnerships policy in the context of essential services that cannot be allowed to fail. This article shows that the NATS PPP was not affordable, even without the unprecedented downturn in travel after September 11th 2001. The PPP exacerbated rather than resolved NATS' financial problems. The author concludes by questioning the rigour and appropriateness of the Government's appraisal processes.

Suggested Citation

  • Jean Shaoul, 2003. "A Financial Analysis of the National Air Traffic Services PPP," Public Money & Management, Taylor & Francis Journals, vol. 23(3), pages 185-194, July.
    • Handle: RePEc:taf:pubmmg:v:23:y:2003:i:3:p:185-194
    DOI: 10.1111/1467-9302.00367
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    Cited by:

    1. Khadaroo, Iqbal, 2008. "The actual evaluation of school PFI bids for value for money in the UK public sector," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 19(8), pages 1321-1345.
    2. Jean Shaoul, 2010. "A Review of Transport Public–Private Partnerships in the UK," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 24, Edward Elgar Publishing.
    3. Sounman Hong, 2016. "When does a public–private partnership (PPP) lead to inefficient cost management? Evidence from South Korea’s urban rail system," Public Money & Management, Taylor & Francis Journals, vol. 36(6), pages 447-454, September.
    4. David Parker, 2004. "The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment," CESifo Working Paper Series 1126, CESifo.
    5. Isaac Akomea-Frimpong & Xiaohua Jin & Robert Osei-Kyei, 2022. "Mapping Studies on Sustainability in the Performance Measurement of Public-Private Partnership Projects: A Systematic Review," Sustainability, MDPI, vol. 14(12), pages 1-20, June.
    6. Penyalver, Domingo & Turró, Mateu & Williamson, John B., 2019. "Measuring the value for money of transport infrastructure procurement; an intergenerational approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 119(C), pages 238-254.
    7. Cuthbert, J.R. & Cuthbert, M., 2012. "Why IRR is an inadequate indicator of costs and returns in relation to PFI schemes," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 23(6), pages 420-433.
    8. Anthony E. Boardman & Aidan R. Vining, 2010. "Assessing the Economic Worth of Public–Private Partnerships," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 8, Edward Elgar Publishing.

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