Written question asked by Baroness Randerson (Liberal Democrat) on Tuesday, 15 March 2022, in the House of Lords. It was due for an answer on Tuesday, 29 March 2022. It was answered by Lord Callanan (Conservative) on Tuesday, 29 March 2022 on behalf of the Department for Business, Energy and Industrial Strategy.
flypop: Future Fund
- Question
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To ask Her Majesty's Government how much funding FlyPop Ltd has received from the Future Fund; what due diligence they undertook, prior to awarding this funding, to ensure that the company complies with the requirement for the majority of its business to be based in the UK; whether the company has yet applied for the necessary UK AOC Licence; and if so, whether that licence has been granted.
- Answer
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The Department is unable to provide information relating to loan amounts for individual companies as this information is commercially sensitive for both investors and investee businesses.
All investee companies were required to certify that they met the UK nationality criteria as part of the process of signing the Convertible Loan Agreement. Businesses provided details of their country of incorporation, UK Company registration number as well as the citizenship of company officers and an ownership structure chart or supporting documentation showing ultimate beneficial owners of the company. These details were checked as part of the eligibility checks carried out. As this particular business was pre-revenue and pre-operational at the time of application, these checks also satisfied the requirement that over half of employees should be UK-based or half of revenues should be from UK sales.
Licensing is a matter for the Civil Aviation Authority. A UK Air Operator Certificate has not been granted to this company to date.
Secondary information
- Type
- Written question
- Reference
- HL6989
- Session
- 2021-22
- Related items
- Subjects
- Aviation Licensing Future Fund flypop
- Contains statistics
- Yes
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2023-05-17 16:42:14 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2021-22/HL6989
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