British European Airways

HC Deb 15 February 1971 vol 811 cc370-1W

Mr. Golding

asked the Secretary of State for Trade and Industry what target percentage return on capital has been set for British European Airways in the present year; and how that percentage return has been calculated.

Mr. Anthony Grant

B.E.A.'s financial objective covers the four year period from 1st April, 1968, to 31st March, 1972. It is to achieve not less than an average return—before charging interest and taxation—of 8 per cent. on net assets over the period.