§ Mr. FoulkesTo ask the Secretary of State for Transport (1) if he will list the acreage and asset value of land owned by BAA at the time of its privatisation at each of the airports in its ownership; and what assurances were sought from the management of BAA plc regarding the future disposal of such land;
371W(2) what was the value of the total land owned by BAA at Prestwick airport at the time of privatisation.
§ Mr. McLoughlinThe 1987 BAA company accounts show the following gross current cost valuations for freehold property, comprising land and buildings, at the seven BAA airports:
£ thousand Heathrow 624,100 Gatwick 181,000 Stansted 49,106 Glasgow 46,617 Edinburgh 27,942 Prestwick 27,552 Aberdeen 19,220 The prospectus isued when BAA plc shares were offered for sale showed the acreages of the principal properties of the BAA group at 8 July 1987 as follows:
Acres Heathrow 2,750 Gatwick 1,642 Stansted 2,406 Glasgow 699 Edinburgh 873 Prestwick 555 Aberdeen 497 In addition, the company held approximately 1,815 acres of land and buildings which were not directly or immediately required for airport operations.
BAA's articles of association provide that the company may not dispose of an airport designated for the purposes of economic regulation under the 1986 Act without the prior consent of the holder of the special share. This may only be held by a Minister or other person acting on behalf of the Crown. Heathrow, Gatwick and Stansted are the BAA airports currently designated and my right hon. Friend holds the share.