§ 2.31 p.m.
Viscount MERSEYMy Lords, I beg leave to ask first the Question which stands in my name on the Order Paper.
§ The Question was as follows:
§ To ask Her Majesty's Government what is the estimated profit or loss, allowing for depreciation and insurance, of operating the Concorde aircraft for the months of September and October 1976.
Lord ORAMMy Lords, I regret that the information which the noble Lord has requested is not at present available, and it is not British Airways policy to publish the results of individual parts of their operations in advance of their annual report and accounts.
Viscount MERSEYMy Lords, I suppose I must thank the noble Lord, Lord Oram, for his Answer. Possibly the noble Lord does not wish or is not able to answer the Question which I put, but I should be glad if he could give the House some figures of profit and loss on this machine in the last few months. Can the noble Lord also tell the House when he is likely to be able to answer the Question in more detail?
Lord ORAMMy Lords, I think the position is that it is too early to draw conclusions about the profitability of the operations of Concorde. Figures for the first year or two will reflect the substantial non-recurring start-up costs. The present exclusion from New York imposes a substantial penalty, so I suggest it is a little early to start asking the type of Question which the noble Viscount puts to me.
§ Lord HARMAR-NICHOLLSMy Lords, while it may be too early, my noble friend Lord Mersey asked for a figure for the estimated profit. Are we to understand there are no estimates?
Lord ORAMMy Lords, these are two very recent months, and the result have not been computed. In any case, as I said in my first Answer, I think it is reasonable for British Airways not to publish figures about a part of their operations in advance of the annual report. That is perfectly reasonable.