§ The Earl of KIMBERLEY
asked Her Majesty's Government:
What is the capital sum presently employed by British Airways and what proportion of this sum is provided by or guaranteed by the Treasury.
§ Lord TREFGARNE
The total of British Airways' outstanding capital borrowings is currently £355.0 million. Of this total, borrowings from the National Loans Fund amount to £43.2 million. Overseas borrowings and capitalised lease finance account for the balance of £311.8 million, all of which is covered by Treasury guarantee.
In addition, British Airways has £320 million public dividend capital of which £160 million is to be written off in accordance with the announcement made by the previous Government on 22nd February this year.