The London Air Ambulance is set to return to public ownership following an announcement from Sterling Group confirming its intentions to relinquish its share in the Charity.
The London Air Ambulance Charity is owned by the London Ambulance Service and Sterling Group, with Sterling Group holding a 25% minority stake.
Following a King’s Speech pledge to return to shares back to the London Ambulance Service in its entirety, the holding company has now pre-emptively announced they will return the shares themselves.
Speaking in a letter addressed to the Prime Minister, the Chairman of Sterling Group Ltd said that the Group’s involvement with the Charity has “reached its natural conclusion”.
When asked by the BBC for comment, the Chairman said:
“I believe Sterling Group’s involvement in London Air Ambulance has reached its natural conclusion, and I have therefore chosen to relinquish our shareholding voluntarily, without the need for further parliamentary intervention, whilst wishing the charity every success in the future”
The Government was set to expropriate the shares through the Expropriation of the London Air Ambulance Charity Bill 2026, which would return the Group’s 25% minority back to the Ambulance Service.
The Bill’s explanatory notes said that there was “no reason” for the Charity to be owned by a private shareholder.
The BBC has approached the Prime Minister for comment.