Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of the Government taking an equity stake in (a) British Airways and (b) other airlines that are domiciled for tax purposes in the UK.

The Government recognises the challenging times facing the aviation sector as a result of COVID-19 and firms experiencing difficulties as a result of COVID-19 can draw upon the unprecedented package of measures announced by the Chancellor, including schemes to raise capital, flexibilities with tax bills, and financial support for employees.

As the Chancellor set out in his letter to the aviation sector, should individual firms still find themselves in difficulty after exhausting all other options, the Government is prepared to enter negotiations with them as a last resort. Any intervention would need to represent value for money for taxpayers.