When Was British Aerospace Formed?

The Aircraft and Shipbuilding Industries Act was passed in April 1977 by the government. It entailed the nationalization and merger of British Aircraft Corporation, Hawker Siddeley Aviation, Hawker Siddeley Dynamics and Scottish Aviation. This merger came to be known as British Aerospace, formed on the 29th of April 1977..

In 1981, as per the British Aerospace Act of 1980, it became a public company known as British Aerospace Public Limited Company. Subsequently, the same year the British government sold 51.57% and the remaining shares held by it in 1985. The British government maintains a Golden share in the company, which allows it to veto foreign control of the board or company. BAE is the largest exporter of the U.K. and most of its exports constitute defense contracts.

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