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That is a separate consideration when we decide on a planning application. I hope that Mr Whittle will respect that.

The £11 million valuation of the loan is subject to change. A revaluation of the airport is under way. I cannot pre-empt that but, if there is a more favourable financial position, the value of the loan on the Government’s books and the expectation of any return to be realised will change too.

We want to see the loan being returned as quickly as possible and we have set out that expectation to the current management and the board.

We set up SCAD on the back of an Audit Scotland recommendation to ensure that we effectively manage the strategic assets that are under our ownership. That has meant that there is greater involvement of senior officials in the operations of those businesses, and a close working relationship. As I reiterated to the convener, day-to-day operational decisions are commercial matters, but, clearly, having a close working relationship on strategic direction is very important. From a more practical, day-to-day perspective, I believe that there has been an improvement in the way in which we operate with our strategic assets. Colin Cook may wish to comment further.

With regard to the diversity of income that comes from the airport site, military flights and military income have been a factor for Prestwick airport for quite a considerable time—that has been a feature since the 1930s. That on-going diversity is, as Mr MacDonald’s questioning of senior management demonstrated, incredibly important to ensure the interrelationship between the physical airport, the passenger element, the military element and the wider business operation, which includes other businesses being located on the site.

To answer Mr Stewart’s question directly, there is, of course, on-going scrutiny and the on-going involvement of me and Colin Cook and his team. We have people observing on the operational board on a regular basis. To respond again to Mr Fraser’s question, the creation of SCAD has enhanced our scrutiny as it allows us to have an overview of the way in which all our assets—not just Glasgow Prestwick airport—operate, to ensure that we are stretching them in what they seek to develop through the site.

We have spoken about the opportunities that exist for the spaceport, the advent of sustainable aviation fuel and Prestwick airport’s strategic importance in the delivery of aviation fuel across the network. We need to ensure—as we are—that people continue to pedal fast so that the continued development happens at pace and the opportunities that they have before them are realised.

My senior officials, led by Colin Cook, have regular engagement with the airport. We sit on the operations board and have responsibility, as set out in the management statement, for strategy for the airport. We have close involvement, but day-to-day operational decisions are commercial matters for the management and board.

I would be happy to do that. My understanding is as was set out in the earlier evidence session, but I am happy to seek further confirmation of that from UK ministers.

I thank Ms Tweed for that question, because it sets out a key consideration of our strategic assets—that of cost and value. The cost outlay that has been made to ensure that there is a financial return for the taxpayer is an important consideration that has a bearing on our decision on the overall value.

Along with the chair and the chief executive, Mr Cook and I have set out the wider economic value of the airport, and that the airport site is a hub for supporting economic activity in the Ayrshire regional economic partnership area. It is critical that any decision that we take maximises the hard financial value for taxpayers’ investment, but it must also consider the economic impact on the region in terms of jobs and new business opportunities.

A number of considerations will be taken, should there be further expressions of interest in acquiring the airport, as I hope there will be.

It is clear that we expect a commitment to ensuring continued passenger activity at the airport.

That is where the consideration of the hard financial position and the wider value would come into play. I hope that Mr Fraser understands that there might need to be pragmatism in that regard, depending on what the bid looked like and on the wider factors that it took into account, such as—on Mr Smyth’s point—the wider investment that the bidder might seek to make in Glasgow Prestwick airport. However, that would be subject to discussion on a case-by-case basis. I underline that we would obviously look to realise the maximum return possible to the public purse.

You heard pretty clearly from the leadership team in your earlier session that its focus is on growing the business and ensuring that profitability continues to spiral upwards, which makes it inherently marketable to the private sector. That focus makes the airport a good asset for the Scottish Government, ensuring a return for the public purse. The strategy of making the airport a strong and commercially viable business is also conducive to moving it back into the private sector.