The chief financial officer (CFO) at NATS Holdings, Alistair Borthwick, has announced that he is to step down from the role later this year.

Borthwick has informed the board that he will remain at the air navigation services business until the end of 2025.

NATS has stated that it will now initiate a formal search process for his successor and a further announcement will be made at a later date.

Chief executive officer at NATS, Martin Rolfe, said: "I have very much enjoyed working with Borthwick since he joined the board in August 2019. He has made a significant contribution to NATS, particularly in steering the business through an exceptionally challenging period for the aviation sector. On behalf of the board and all colleagues, I thank him for his leadership and commitment and wish him every success in the future."

Borthwick concluded: "It has been a privilege to serve as CFO of NATS over the past six years. I'm proud of what we've achieved together, and I leave knowing the business is in a strong financial position with a clear strategy for the future. While I look forward to pursuing an opportunity closer to my home location, I'd like to thank the board and my colleagues for their support and wish everyone at NATS continued success."

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