NATS HOLDINGS LIMITED
Formerly known as National Air Traffic Services, the company operates as a public-private partnership providing en-route air traffic control across UK airspace and at numerous domestic airports through its main subsidiaries NATS En-Route PLC and NATS Services Ltd.
Get an alert when NATS HOLDINGS LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£296m
+79.7% highest in 3 filed years
Net assets
£1bn
+22.4% highest in 3 filed years
Employees
4,924
+3.2% highest in 3 filed years
Profit before tax
£213m
-9.1% lowest in 3 filed years
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £1,189,000,000 | £1,071,600,000 | £1,076,400,000 | +0.4% | |
| Operating profit | £384,600,000 | £200,300,000 | £157,600,000 | -21.3% | |
| Profit before tax | £371,500,000 | £234,300,000 | £213,000,000 | -9.1% | |
| Net profit | £277,500,000 | £174,600,000 | £165,900,000 | -5% | |
| Cash | £160,200,000 | £164,700,000 | £296,000,000 | +79.7% | |
| Total assets less current liabilities | — | £2,023,500,000 | £2,418,100,000 | +19.5% | |
| Net assets | £914,800,000 | £831,000,000 | £1,017,400,000 | +22.4% | |
| Equity | £914,800,000 | £831,000,000 | £1,017,400,000 | +22.4% | |
| Average employees | 4,452 | 4,770 | 4,924 | +3.2% | |
| Wages | £402,500,000 | £437,200,000 | £469,000,000 | +7.3% | |
| Directors' remuneration | — | £2,812,000 | £3,019,000 | +7.4% | |
| Directors' pension contributions | — | £136,000 | £379,000 | +178.7% | |
| Highest paid director | £490,000 | £1,493,000 | £1,418,000 | -5% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Operating margin | 32.3% | 18.7% | 14.6% | |
| Net margin | 23.3% | 16.3% | 15.4% | |
| Return on capital employed | — | 9.9% | 6.5% | |
| Gearing (liabilities / total assets) | 62.5% | 64.7% | 61.7% | |
| Current ratio | 2.23x | 1.55x | 3.06x | |
| Interest cover | 28.07x | 7.89x | 5.90x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- NATS HOLDINGS LIMITED 2001-09-10 → present
- NATIONAL AIR TRAFFIC SERVICES (NO.2) LIMITED 2001-01-26 → 2001-09-10
- TRUSHELFCO (NO.2761) LIMITED 2001-01-10 → 2001-01-26
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- EY LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company’s ability to continue as a going concern for a period until 30 June 2027.”
Group structure
- NATS HOLDINGS LIMITED · parent
- NATS Limited 100%
- NATS (En Route) plc 100%
- NATS (Services) Limited 100%
- NATS Solutions Limited 100%
- NATSNav Limited 100%
- NATS Employee Sharetrust Limited 100%
- National Air Traffic Services DMCC 100%
- NATS Services (LLC) 70%
- NATS Services (Asia Pacific) Pte. Limited 100%
- NATS Services (Hong Kong) Limited 100%
- NATS USA Inc. 100%
- NATS (Services) Canada Inc. 100%
- Searidge Technologies Inc. 100%
- QinetiQ Services (India) LLP 100%
Significant events
- “In November 2025, NERL issued £250m of unsecured 10-year bond to enhance its liquidity, alongside extending the life of its £400m bank facility by one year to December 2028.”
- “On 27 February 2026, the Group entered into an agreement with Indra Sistemas, S.A. to form a new joint venture, IQONAIR Technologies, subject to Spanish FDI (Foreign Direct Investment) approval.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
14 active · 60 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CHURCHILL-COLEMAN, Richard Paul | Secretary | 2007-06-28 | — | British |
| BAGWELL, Gregory Jack | Director | 2022-10-01 | Oct 1961 | British |
| BAKER, Ross Findlay Scott | Director | 2023-11-30 | Jun 1974 | British |
| BUSH, Harry John | Director | 2014-05-29 | Aug 1953 | British |
| CAMPBELL, Michael | Director | 2017-05-26 | Aug 1957 | British |
| DA CUNHA, Maria Juana | Director | 2025-08-01 | Jan 1963 | British |
| DELLACHA, Maria Georgina | Director | 2026-03-26 | Jan 1975 | British |
| EAST, David Warren Arthur | Director | 2024-09-01 | Oct 1961 | British |
| FRANKLIN, Gary Adam | Director | 2026-01-01 | Oct 1981 | British |
| MERCHANT, Gavin Bruce | Director | 2014-03-20 | Oct 1969 | British |
| PRUDON, Albertus Antonius Maria | Director | 2023-03-30 | Jul 1975 | Dutch |
| ROLFE, Martin John | Director | 2013-04-01 | Aug 1972 | British |
| SMITH, David Miles | Director | 2022-10-01 | Mar 1961 | British |
| STREET, Louise Anne | Director | 2018-11-29 | Sep 1974 | British |
Show 60 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| PICTON, Andrew Julian Howard | Secretary | 2001-03-31 | 2007-06-28 |
| TRUSEC LIMITED | Corporate Nominee Secretary | 2001-01-10 | 2001-03-31 |
| ANDREW, Iain | Director | 2003-10-06 | 2004-04-20 |
| ANTONIOU, Maria | Director | 2016-08-01 | 2025-07-31 |
| BARKER, Andrew John Frederick | Director | 2016-09-28 | 2017-09-29 |
| BARRON, Paul Stuart | Director | 2004-06-18 | 2010-03-31 |
| BENNETT, Christopher John | Director | 2014-03-20 | 2015-03-04 |
| BERNSTEIN, Daniel Lipman | Director | 2001-07-26 | 2007-12-31 |
| BISIGNANI, Giovanni | Director | 2002-09-24 | 2013-06-27 |
| BORTHWICK, Alistair John | Director | 2019-10-03 | 2025-12-31 |
| BRADY, Warwick | Director | 2013-05-23 | 2014-09-10 |
| BROOKE, Clive, Lord | Director | 2001-07-26 | 2006-07-25 |
| CATO, Roger | Director | 2003-04-28 | 2015-12-31 |
| CHISHOLM, Colin Denis King | Director | 2001-03-31 | 2005-04-01 |
| DAY, Rosemary | Director | 2001-03-31 | 2001-07-25 |
| DEAKIN, Richard Simon | Director | 2010-04-01 | 2010-04-01 |
| DEAKIN, Richard Simon | Director | 2010-04-01 | 2015-05-18 |
| DEAN OF THORNTON LE FYLDE, Brenda, Rt. | Director | 2006-07-24 | 2016-07-28 |
| DEVANEY, John Francis | Director | 2005-07-01 | 2014-08-31 |
| EVERITT, Richard Leslie | Director | 2001-07-26 | 2004-06-18 |
| FACEY, William Edward Brinton | Director | 2014-11-27 | 2017-06-30 |
| FOTHERBY, Nigel Terence Chell | Director | 2001-03-31 | 2019-06-30 |
| GIBSON SMITH, Christopher Shaw, Dr | Director | 2001-09-01 | 2005-08-31 |
| GOLBY, Paul, Dr | Director | 2014-09-01 | 2024-08-31 |
| HALL, Ian Robert | Director | 2006-02-23 | 2011-03-24 |
| HARVEY, John David | Director | 2001-03-31 | 2001-07-25 |
| HOPE, Christopher | Director | 2017-07-27 | 2018-10-04 |
| HORTON, Charles Mark | Director | 2001-01-25 | 2001-02-12 |
| HOSKINS, Lawrence Anthony | Director | 2006-02-23 | 2010-04-30 |
| HUMPHREYS, Barry Keith | Director | 2004-07-20 | 2014-03-20 |
| JEANNIOT, Pierre Jean Hubert | Director | 2001-09-21 | 2002-09-24 |
| KEYS, Richard John | Director | 2013-09-01 | 2022-09-30 |
| LEAHY, Kathryn Maria | Director | 2018-05-31 | 2023-06-04 |
| LEE, Michael Charles | Director | 2001-07-26 | 2003-10-06 |
| LORD, Andrew Peter Stanton | Director | 2009-02-26 | 2016-09-28 |
| MAIZEY, Drusilla | Director | 2001-07-26 | 2002-09-24 |
| MCBRAYNE, Ian Charles | Director | 2001-02-12 | 2001-03-31 |
| MCCONNELLOGUE, Hugh | Director | 2018-10-04 | 2022-12-23 |
| MCMILLAN, David Loch | Director | 2001-02-12 | 2001-03-31 |
| MCNICOLL, Iain Walter | Director | 2013-09-01 | 2022-09-30 |
| MCNULTY, Robert William Roy, Sir | Director | 2001-03-31 | 2001-07-25 |
| MILLS, Ian Philip | Director | 2008-02-28 | 2011-09-22 |
| MILLS, Neil Raymond | Director | 2008-11-27 | 2009-03-19 |
| MURPHY, Vernon Leslie | Director | 2003-04-28 | 2004-11-20 |
| PETTIT, Stephen Raymond | Director | 2001-07-26 | 2007-07-25 |
| POWELL, Michael James | Director | 2014-03-20 | 2014-05-29 |
| PROVAN, Derek | Director | 2016-01-28 | 2018-02-28 |
| READ, Peter Brian Emms | Director | 2002-09-23 | 2017-05-25 |
| REID, Paul William | Director | 2011-06-30 | 2013-12-06 |
| REINTON, Sigurd Evang | Director | 2007-07-26 | 2013-08-31 |
| ROWE, Drusilla Charlotte Jane | Nominee Director | 2001-01-10 | 2001-01-25 |
| SEMPLE, William Kerr | Director | 2001-03-31 | 2006-07-25 |
| STEVENS, Derek Maurice | Director | 2002-07-23 | 2008-09-30 |
| STIRRUP, Graham Eric, Air Marshal | Director | 2001-03-31 | 2001-07-25 |
| TURNER, Nigel Owen | Director | 2008-01-01 | 2014-03-20 |
| TURNER, Nigel Owen | Director | 2001-07-26 | 2003-12-10 |
| TYLER, Anthony Nigel | Director | 2013-07-01 | 2016-07-28 |
| WHITE, Andrew David | Director | 2006-07-24 | 2013-08-31 |
| WILKS, David Hardy | Director | 2001-01-25 | 2001-02-12 |
| ZUERCHER, Eleanor Jane | Nominee Director | 2001-01-10 | 2001-01-25 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 235 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-13 | AA | accounts | Accounts with accounts type group | |
| 2026-03-31 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-05 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-18 | AA | accounts | Accounts with accounts type group | |
| 2025-01-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-06 | AA | accounts | Accounts with accounts type group | |
| 2024-02-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-13 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-04 | AA | accounts | Accounts with accounts type group | |
| 2023-06-06 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-04 | AP01 | officers | Appoint person director company with name date | |
| 2023-02-24 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2023-01-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-03 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.