HC Deb 16 June 1988 vol 135 c210W
Mr. Stern

To ask the Chancellor of the Duchy of Lancaster if he will make a statement on what proposals there are for the restructuring of the management and finances of Airbus Industrie.

Mr. Kenneth Clarke

The proposals for restructuring the management and finances of Airbus Industrie are contained in the report of the four independent advisers, known as the wise men, copies of which have been placed in the Library of the House.

At our last meeting, in Hanover on 5 May, the Aerospace Ministers of the four Airbus partners' Governments noted with satisfaction that the Airbus partners and Airbus Industrie had responded promptly in studying the wise men's recommendations and reaching agreement in principle to their proposals. We asked the industrialists to start to implement the restructuring without delay with a view to establishing the structure of the new organisation by autumn, with full implementation from the end of 1988 at the latest.