HC Deb 21 November 1973 vol 864 cc449-50W
Mr. Bishop

asked the Secretary of State for Trade and Industry what was the profit made by British Airways in 1972–73 in its first year of operation; and how this compares with the gross and net profit figures for the previous year's combined BOAC and BEA totals.

Mr. Onslow

In 1972–73 the British Airways Board's profit before interest, taxation and extraordinary items was £33.9 million; profit after interest, taxation and extraordinary items was £5.2 million. In 1971–72 the combined BOAC

£ thousands (cif)
1970 3rd Quarter 1971 3rd Quarter 1972 3rd Quarter 1973 3rd Quarter
Television receivers 1,917 4,480 11,215 30,929
Domestic or portable radio receivers, battery operated (including mains/battery operated) 1,777 3,280 3,950 6,352
Radiograms 372 425 1,318 1,721
Domestic electric refrigerators 2,386 3,120 3,496 7,160
Domestic electric washing machines 635 1,064 1,817 5,956
Note: Parts are excluded throughout.

and BEA figure for profit before interest, taxation and extraordinary items was £13.2 million; after interest, taxation and extraordinary items there was a loss of £0.3 million.

Mr. Bishop

asked the Secretary of State for Trade and Industry what amount British Airways has paid Her Majesty's Government on its public dividend capital; and what subsidies it receives from the Government.

Mr. Onslow

The British Airways Board made a payment of £4,375,000 in respect of the financial year 1972–73, its first year of operations. The Board receives no subsidy from the Government.

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