§ Mr. MooreTo ask the Secretary of State for the Environment, Transport and the Regions (1) if he will list, for each of the last 10 years for which figures are available, the total amount NATS has(a) borrowed from and (b) repaid to the Civil Aviation Authority and HM Treasury and (c) the total amount of capital investment made by NATS; [112393]
(2) what profits NATS has made in each of the last five years for which figures are available. [112392]
§ Mr. Mullin[holding answer 1 March 2000]: NATS was incorporated as a wholly-owned subsidiary of the Civil Aviation Authority on 1 April 1996—figures are not available for NATS as a separate entity before that time. The relevant figures for NATS for financial years 1996–97, 1997–98 and 1998–99 are as follows:
£ million 1996–97 1997–98 1998–99 Profits after interest and tax 13.7 14.7 30.9 Borrowed from CAA 0 2.1 12.0 Repaid to CAA 31.3 28.2 67.9 Capital Investment 56.5 42.7 35.7 Profits in 1998–99 were up due to higher than expected levels of traffic, and a reduction in NATS" operating costs. Borrowing repayments increased in order to allow NATS to carry increased funds forward to 1999–2000, to prepare for the higher levels of capital expenditure on the New Scottish Centre expected in that year. Profits in 1998–99 were up due to higher than expected levels of traffic, and a reduction in NATS' operating costs. Borrowing repayments increased in order to allow NATS 334W to carry increased funds forward to 1999–2000, to prepare for the higher levels of capital expenditure on the New Scottish Centre expected in that year.