§ 20. Mr. Tinnasked the Minister for Trade what were the total profits of each of the following main subsidiaries of British Airways: British Airways Engine Overhaul Ltd, International Air Radio Ltd, British Airways Associated Companies Ltd, British Airtours and British Airways Helicopters Ltd in each of the last two years for which the information is available.
§ Mr. SproatThe last two years for which information is available are the 1979–80 and 1980–81 financial years. Taking the years in that order, the total post-tax profits for each subsidiary are as follows
174WBritish Airways Engine Overhaul Limited: zero in each year;International Aeradio Limited: £3.8million and £3.7 millionBritish Airways Associated Companies Limited: £6.2 million and £6.4 millionBritish Airtours Limited: £4.2 million and £2.3 millionBritish Airways Helicopters Limited: £2.2 million and £1.8 million.
§ 29. Mr. Sheermanasked the Minister for Trade if he will list the circumstances in which his authority is required before British Airways can sell off any of its subsidiary companies.
§ Mr. SproatBritish Airways do not require the Secretary of State's authority before they may sell off their subsidiary companies. But the Government would expect to be consulted in any important cases.
§ 30. Mr. Norman Atkinsonasked the Minister for Trade what was the total profit or loss of British Airways in the last three financial years; and what was the overall contribution to each of those figures by the subsidiary companies of British Airways.
§ Mr. SproatThe last three years for which information is available are the financial years 1978–79, 1979–80, and 1980–81. In 1978–79 the British Airways group as a whole made after-tax profits of £62 million and the subsidiaries contributed £18 million. In 1979–80 the group made profits of £3½ million and the subsidiaries contributed £18 million. In 1980–81 the group made a loss of £145 million and the subsidiaries contributed profits of £21 million.
§ Mr. Neubertasked the Minister for Trade whether he will refer British Airways for investigation under section 11 of the Competition Act 1980.
§ Dr. VaughanA programme for the current year of investigations into the efficiciency of certain nationalised industries and public sector bodies has already been announced. British Airways have not been included but they will be considered for possible inclusion in a future programme.