HC Deb 27 January 1987 vol 109 cc214-5W
Mr. Cartwright

asked the Secretary of State for Transport whether he will make it his policy to ensure that members of British forces posted overseas are entitled to apply for shares in British Airways on exactly the same basis as United Kingdom residents.

Mr. Michael Spicer

British forces posted overseas may apply for shares in British Airways on exactly the same terms as United Kingdom residents provided that they have satisfied themselves that to do so would not conflict with any local legal requirements. Alternatively, they may give a United Kingdom resident power of attorney to apply on their behalf.

Mr. Charles Morrison

asked the Secretary of State for Transport if he will make a further statement about the privatisation of British Airways.

Mr. Moore

This morning the offer for sale of 720,200,000 ordinary shares in British Airways plc was fully underwritten at a price of 125p per share. This represents a market capitalisation value of £900 million. Copies of the prospectus are available in the Library.