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Interview – Sir Francis Tombs
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Margaret Thorn Interviews Sir Francis Tombs
Though it appears to be a frighteningly traumatic decision for the Federal Government to take, the fact that both Australian Airlines and Qantas are both desperately seeking to become privatised is evidence enough that the time has come for them to face the market in order to help liquidate their long-term debt. In England, the Thatcher Government’s privatisation policy has not only met with stock market enthusiasm but also a rejuvenated industrial base where it has been applied. Three UK companies in the aerospace environment that have been privatised in recent years are British Aerospace, British Airways and Rolls-Royce. As a consequence all have soared to new heights and none more so than engine maker, Rolls·Royce, which is presently facing its brightest market prospects ever. Much of the credit for the turnaround of RR’s fortunes can, however, be traced back to the forward looking attitudes of its present Chairman, Sir Francis Tombs. To ascertain how privatisation affected Rolls-Royce and what impact it might have locally, Australian Aviation Associate Editor, Margaret Thorn recently spoke with Sir Francis Tombs.
MT: You have quite a reputation for reviving struggling businesses in the UK. I understand that in addition to Rolls-Royce, you have revived two other engineering based businesses.
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