Airways' British aims

Airways and Lockheed are part of a consortium looking to buy a 46 per cent stake in Britain's air traffic control system, National Air Traffic Services.

The consortium, Novares, also includes British financiers Apax Partners as well as AEA Technology and the British Government's Defence Evaluation and Research Agency, which are providing technical assistance.

New Zealand investment company Infratil is financing Airways' involvement.

Novares was shortlisted for the $1.8 billion sale alongside two other consortiums in November. Due diligence is under way and final bids are due early next month.