CONFIDENTIAL
XCC(71)37
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had been agreed after the two main participants, representative of the major airline interests, had stressed that, in their view, the success- ful launching of a fully consolidated terminal accommodating all carriers would be prejudiced if too many diverse interests were associated with it. It was also explained that these two companies would probably not be interested in participating on an agency basis, for they were of the view that control at board room level was essential for the successful launching of what would be a novel operation.
4
The provision of up to $1 million from the Development Loan Fund for Government's share of the equity capital was approved in principle, but only on the understanding that the Chairman would convey Members' views to Executive Council.
1.
5
(a)
(b)
Accordingly, Honourable Members are invited:
to note the misgivings expressed by some members of Finance Committee about the intention only to associate the two public companies engaged in cargo handling with the proposed consortium,
to advise that the consortium should be established on the basis set out in paragraph 4 of memorandum XCC(71)33.
12th July 1971 (CR 2/926/67)
COUNCIL CHAMBER
CONFIDENTIAL