ABSTRACT
During last year’s debate [1985] on the White Paper on airport policy, MPs from both sides of the House expressed concern regarding the degree to which Stansted was cross-subsidised by London’s other airports. The Secretary of State, Nicholas Ridley, went to great lengths to allay this concern: cross-subsidy would be ‘cut out’ by:
establishing each of the British Airports Authority’s airports as a Companies r Act company (wholly owned by a holding company, BAA plc); and ensuring that loans from the holding company, or between separate airports r companies, were at commercial rates and transparent.
