Chairman’s Statement
Dr Paul Golby CBE
There continues to be great uncertainty in any return to normal levels of air travel. Through the pandemic we have made significant economies but retained the skills and capacity necessary to ensure that we are able to safely support the recovery of aviation.
The form of any recovery remains unclear and may be subject to considerable volatility. We remain prepared for a variety of outcomes. The company and Board responded quickly at the onset of the pandemic to ensure that our staff were protected while maintaining a safe and resilient air traffic control service. We took decisive action to preserve liquidity by significantly reducing our cost base and, suspending all but essential capital investment.
CEO’s Review
Martin Rolfe
Managing the impact of Covid-19 and the uncertainty it created was the defining theme of the last financial year and continues to be our focus, together with supporting our staff and delivering a safe service.
The volume of flights we handled in the year fell by 73% from the year before. This significantly impacted our liquidity and our price control is now being redetermined by the CAA. We responded quickly and effectively to restrictions caused by the pandemic, particularly in operational areas, to maintain a resilient operation, support our customers, secure our long-term finances and reduce our cost base.