§ Mr. Hoyasked the Chancellor of the Exchequer whether he has any statement to make about the provision of capital for the Airways Corporations.
§ Sir S. CrippsYes. My noble Friend the Minister of Civil Aviation and I have approved proposals by the British European Airways Corporation and the British South American Airways Corporation for issues of stock to repay temporary bank advances, to acquire additional aircraft and other assets, and to provide further working capital. Accordingly, the Corporations have today made the following issues of stock at par to the National Debt Commissioners under Treasury guarantee: £6 million of 3 per cent. Guaranteed British European Airways Stock 1980–83; £3½ million of 3 per cent. Guaranteed British South American146W Airways Stock 1980–83. These are the first stock issues made by these two Corporations.