HC Deb 08 June 1964 vol 696 cc31-2W
Mr. McMaster

asked the Minister of Aviation what financial objectives he has agreed with the British Overseas Airways Corporation and British European Airways, implementing the policy laid down in Command Paper No. 1337.

Mr. Amery

The financial objective set for B.E.A. is an average return on its net assets over the five years from 1963–64 to 1967–68 of 6 per cent. a year after making proper provision for depreciation but before taking account of interest charges. In my letter of 1st January, 1964, to the new Chairman of B.O.A.C. (HANSARD, 5th February, 1964, Cols. 1141–2) I have given B.O.A.C. the immediate task of achieving the break even point after meeting interest and depreciation.

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