Skip to main content

Laker Airways

Volume 21: debated on Tuesday 6 April 1982

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Secretary of State for Trade, further to the reply to the hon. Member for Holborn and St. Pancras, South on 29 March, Official Report, c. 7 (a) from whom information was received before Christmas about Laker Airways' financial stability and (b) what was the nature of the information received.

[pursuant to his reply, 5 April 1982, c. 218]: The chairman of the Civil Aviation Authority, which continuously monitors the financial position of United Kingdom airlines, visited me on 15 December last year to express the authority's concern about the finances of Laker Airways, and to inform me that unless the airline could find additional financial support, the authority would shortly have to take steps to suspend Laker's licences. Two days later, however, Laker's merchant bank advisers announced that agreement in principle had been reached on additional financial support, the details of which would be negotiated after Christmas.