Everyone who has had the opportunity of speaking on this annual occasion when we remember Sir Richard Fairey, will have expressed their gratitude to the officers of this branch for their invitation to speak. Certainly for me this expression of thanks is no mere formality because for rather more than 30 years it has been my good fortune to have known most of the officers of the branch and, indeed, a number of the members of this audience.

Secondly, because it was my lot to have been serving with the British Admiralty delegation in Washington at the time when Sir Richard Fairey was leading the British Air Commission in the American capital as its director-general. His leadership was a memorable one, and typical of the man. Certainly he would have had no doubts about speaking on the subject which has been chosen for me tonight—that is, the future of the European Aerospace Industry.