British Airways (Hansard, 2 April 1984)

§ Mr. McCartney
asked the Secretary of State for Transport what is the Government's estimate of losses and profits to the taxpayer following privatisation of British Airways.

§ Mr. David Mitchell
I expect the privatisation of British Airways to bring the taxpayer substantial net proceeds, but it is too early to put a figure on these.

§ Mr. McCartney
asked the Secretary of State for Transport if he will place in the Official Report the figures of profits and losses for British Airways from and including 1974.

§ Mr. David Mitchell
Since 1974 British Airways has made the following profits/losses after taxation and extraordinary items:418W

Year Profit £ million Loss £ million

1973–74 10.5

1974–75 9.4

1975–76 16.3

1976–77 23.9

1977–78 36.9

1978–79 62.3

1979–80 3.5

1980–81 145.1

1981–82 ^*544.8

1982–83 †77.2

^* The figure for 1981–82 included extraordinary charges amounting to £426.4 million principally for supplementary amortization and a severance scheme.

† The figure for 1982–83 included extraordinary items of £26 million principally reflecting profits on the sale of International Aeradio Ltd.

Year	Profit £ million	Loss £ million
1973–74	10.5
1974–75		9.4
1975–76		16.3
1976–77	23.9
1977–78	36.9
1978–79	62.3
1979–80	3.5
1980–81		145.1
1981–82		^*544.8
1982–83	†77.2
^* The figure for 1981–82 included extraordinary charges amounting to £426.4 million principally for supplementary amortization and a severance scheme.
† The figure for 1982–83 included extraordinary items of £26 million principally reflecting profits on the sale of International Aeradio Ltd.