Vers.:	1.20.01-4.01		Your reference:
Date:	21/02/2005 12:41:50

BRITISH AIRWAYS PLC

Descriptive

	dated the	21/02/2005

Country :	United Kingdom
Name / Business name :	BRITISH AIRWAYS PLC
National Identification :	01777777
Date of incorporation :	13/12/1983
Address :	WATERSIDE PO BOX 365 HARMONDSWORTH WEST DRAYTON UB7 0GB
Trading address :	Head Office Speedbird House Heathrow Airport Hounslow TW6 2JA
Main activity :	OPERATION OF INTERNATIONAL AND DOMESTIC SCHEDULED AND CHARTER AIR SERVICES FOR THE CARRIAGE OF PASSENGERS, FREIGHT AND MAIL AND THE PROVISION OF ANCILIARYSERVICES.
Phone number :	0181 759 5511
Staff employed :	51.939 Person(s)
Legal form :	PLC

Financial and administrative incidents

Judgment(s)

Total number :

Total amount :

20.036 £

	Last 12 months	13-24 months	25-36 months	37-48 months	49-60 months	61-72 months
Number	2	0	0	1	0	4
Value (£)	3.072	0	0	322	0	16.642

Judgment (1/7)
Judgment source :	Lord Chancellor
Registered against :	BRITISH AIRWAYS PLC WATERSIDE, PO BOX 365, HARMONDSWORTH, UB7 0GB
Amount :	606 £
Judgment date :	Jun 2004
Case Number :	4RA00942
Court :	RAWTENSTALL

Judgment (2/7)
Judgment source :	Lord Chancellor
Registered against :	BRITISH AIRWAYS PLC HARMONDSWORTH, WEST DRAYTON, MIDDLESEX, UB7 0GB
Amount :	2.466 £
Judgment date :	May 2004
Case Number :	4QZ10195
Court :	NORTHAMPTON

Judgment (3/7)
Judgment source :	Lord Chancellor
Registered against :	BRITISH AIRWAYS PLC ODYSSEY BUS PARK, WEST END ROAD, RUISLIP, MIDDLESEX, HA4 6QF
Amount :	322 £
Judgment date :	Apr 2001
Case Number :	BQ101501
Court :	BASILDON

Judgment (4/7)
Judgment source :	Lord Chancellor
Satifaction date :	Jan 2000
Registered against :	BRITISH AIRWAYS PLC SPEEDBIRD HOUSE, HEATHROW AIRPORT (LONDON), HOUNSLOW, TW6 2JA
Amount :	8.160 £
Judgment date :	Dec 1999
Case Number :	MA923085
Court :	MANCHESTER

Judgment (5/7)
Judgment source :	Lord Chancellor
Registered against :	BRITISH AIRWAYS PLC PO BOX 10, HOUNSLOW, MIDDLESEX, TW6 2JA
Amount :	1.118 £
Judgment date :	Oct 1999
Case Number :	CO905592
Court :	COLCHESTER AND CLACTON

Judgment (6/7)
Judgment source :	Lord Chancellor
Registered against :	BRITISH AIRWAYS PLC TECH BLOCK C, PO BOX 19, HEATHROW AIRPORT, HOUNSLOW, TW6 2JA
Amount :	6.670 £
Judgment date :	Oct 1999
Case Number :	LU905838
Court :	LUTON

Judgment (7/7)
Judgment source :	Lord Chancellor
Registered against :	BRITISH AIRWAYS PLC BUILDING 869, NORTH PERIMETER ROAD, HEATHROW AIRPORT, HOUNSLOW, TW6 2JA
Amount :	694 £
Judgment date :	Mar 1999
Case Number :	SE900288
Court :	SHEFFIELD

Legal notices

No legal notices registered

Mortgage, charges or satisfactions

Mortgages / Charges :	20 most recents out of 526 (of which 74 are fully satisfied)

Charge (1/20)
Date charge registered :	10/01/2005
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	07/01/2005
Lender :	BARCLAYS BANK PLC
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE ASSIGNOR OR THE OWNER TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL INSURANCES AND REQUISITION COMPENSATION RELATING TO BOEING 747-436 AIRCRAFT S/NO 25824 UK REG MARK G-BYGF SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (2/20)
Date charge registered :	23/12/2004
Charge type :	AIRCRAFT MORTGAGE
Latest form type :	[395] Mortgage or charge registration
Date charge created :	09/12/2004
Lender :	HSBC BANK PLC
Secured on :	ALL MONIES DEBTS LIABILITIES AND OBLIGATIONS DUE OR TO BECOME DUE FROM THE COMPANY (AND IN THE CASE OF THE OTHER COLLATERAL MORTGAGE FROM BRITISH AIRWAYS LEASING LIMITED) TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL RIGHTS AND TITLE TO AND IN THE AIRCRAFT BOEING 777-236,SER/NO 30317,REG/NO G-YMMO) AND THE PROCEEDS THEREOF SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (3/20)
Date charge registered :	15/12/2004
Charge type :	ASSIGNMENT RELATING TO BOEING 767-336AER AIRCRAFT WITH S/NO 24335 AND UK REG MARK G-BNWC
Latest form type :	[395] Mortgage or charge registration
Date charge created :	08/12/2004
Lender :	HSBC BANK PLC (THE ASSIGNEE)
Secured on :	UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER OR EVIDENCING THE CHARGE
Details :	ALL RIGHTS UNDER THE LEASE AGREEMENT NO 7673 RELATING TO THE AIRCRAFT

Charge (4/20)
Date charge registered :	15/12/2004
Charge type :	ASSIGNMENT RELATING TO BOEING 767-336AER AIRCRAFT WITH S/NO 24334 AND UK REG MARK G-BNWB
Latest form type :	[395] Mortgage or charge registration
Date charge created :	08/12/2004
Lender :	HSBC BANK PLC (THE ASSIGNEE)
Secured on :	UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER OR EVIDENCING THE CHARGE
Details :	ALL RIGHTS UNDER THE LEASE AGREEMENT NO 7672 RELATING TO THE AIRCRAFT

Charge (5/20)
Date charge registered :	15/12/2004
Charge type :	ASSIGNMENT RELATING TO BOEING 767-336ER AIRCRAFT WITH S/NO 24333 AND UK REG MARK G-BNWA
Latest form type :	[395] Mortgage or charge registration
Date charge created :	08/12/2004
Lender :	HSBC BANK PLC (THE ASSIGNEE)
Secured on :	UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER OR EVIDENCING THE CHARGE
Details :	ALL RIGHTS UNDER THE LEASE AGREEMENT NO 7671 RELATING TO THE AIRCRAFT

Charge (6/20)
Date charge registered :	15/12/2004
Charge type :	ASSIGNMENT RELATING TO BOEING 767-336AER AIRCRAFT WITH S/NO 24336 AND UK REG MARK G-BNWD
Latest form type :	[395] Mortgage or charge registration
Date charge created :	08/12/2004
Lender :	HSBC BANK PLC (THE ASSIGNEE)
Secured on :	UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER OR EVIDENCING THE CHARGE
Details :	ALL RIGHTS UNDER THE LEASE AGREEMENT NO 7674 RELATING TO THE AIRCRAFT

Charge (7/20)
Date charge registered :	10/12/2004
Charge type :	DEED OF ASSIGNMENT
Latest form type :	[395] Mortgage or charge registration
Date charge created :	07/12/2004
Lender :	BRITISH AIRWAYS LEASING LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	BOEING 777-236 ER AIRCRAFT SERIAL NO.30317 REGISTRATION MARK G-YMMO THE LESSEE'S PRESENT AND FUTURE RIGHTS,TITLE AND INTEREST IN ALL INSURANCES IN RESPECT OF ALL RISKS OF PHYSICAL LOSS OR DAMAGE,ALL REQUISITION COMPENSATION SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (8/20)
Date charge registered :	03/12/2004
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	30/11/2004
Lender :	BANK OF AMERICA N.A., LONDON BRANCH (THE OWNER)
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL OF THE COMPANYS RIGHTS TITLE & INTEREST PRESENT AND FUTURE IN AND TO OR ARISING UNDER THE INSURANCE RESPECT OF ALL RISKS OF PHYSICAL LOSS OR DAMAGE ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (9/20)
Date charge registered :	03/12/2004
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	30/11/2004
Lender :	BANK OF AMERICA N.A., LONDON BRANCH (THE OWNER)
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL OF THE COMPANYS RIGHTS TITLE & INTEREST PRESENT AND FUTURE IN AND TO OR ARISING UNDER THE INSURANCE RESPECT OF ALL RISKS OF PHYSICAL LOSS OR DAMAGE ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (10/20)
Date charge registered :	03/12/2004
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	30/11/2004
Lender :	BANK OF AMERICA N.A., LONDON BRANCH (THE OWNER)
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL OF THE COMPANYS RIGHTS TITLE & INTEREST PRESENT AND FUTURE IN AND TO OR ARISING UNDER THE INSURANCE RESPECT OF ALL RISKS OF PHYSICAL LOSS OR DAMAGE ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (11/20)
Date charge registered :	03/12/2004
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	30/11/2004
Lender :	BANK OF AMERICA N.A., LONDON BRANCH (THE OWNER)
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL OF THE COMPANYS RIGHTS TITLE & INTEREST PRESENT AND FUTURE IN AND TO OR ARISING UNDER THE INSURANCE RESPECT OF ALL RISKS OF PHYSICAL LOSS OR DAMAGE ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (12/20)
Date charge registered :	09/11/2004
Charge type :	MORTGAGE DEED
Latest form type :	[395] Mortgage or charge registration
Date charge created :	28/10/2004
Lender :	KREDITANSTALT FUR WIEDERAUFBAU
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	THE AIRCRAFT THE PROCEEDS OF SALE OF THE AIRCRAFT ALL ITS RIGHTS TITLE INTEREST PRESENT AND FUTURE TO AND IN RESPECT OF PROCEEDS ARISING UNDER ALL INSURANCES ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT AND ALL BENEFIT THEREOF SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (13/20)
Date charge registered :	01/11/2004
Charge type :	MORTGAGE DEED
Latest form type :	[9999] Correction to charge details
Date charge created :	15/10/2004
Lender :	KREDITANSTALT FUR WIEDERAUFBAU
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	BY WAY OF FIRST FIXED CHARGE ALL ITS PRESENT AND FUTURE RIGHT AND TITLE TO, AND INTEREST IN, THE PROCEEDS OF SALE OF THE AIRCRAFT BEING AIRBUS A321 AIRCRAFT MSN 2305 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (14/20)
Date charge registered :	23/07/2004
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	14/07/2004
Lender :	LBI HOLDINGS LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ANY POLICIES AND CONTRACTS OF INSURANCE AND ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT BEING ONE BOEING MODEL 767-336ER AIRCRAFT WITH MANUFACTURERS SERIAL NO. 24335 AND UK REGISTRATION MARK G-BNWC SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (15/20)
Date charge registered :	23/07/2004
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	14/07/2004
Lender :	LBI HOLDINGS LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ANY POLICIES AND CONTRACTS OF INSURANCE AND ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT BEING ONE BOEING MODEL 767-336ER AIRCRAFT WITH MANUFACTURERS SERIAL NO. 24336 AND UK REGISTRATION MARK G-BNWD SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (16/20)
Date charge registered :	23/07/2004
Charge type :	BA SECURITY ASSIGNMENT
Latest form type :	[395] Mortgage or charge registration
Date charge created :	14/07/2004
Lender :	LBI HOLDINGS LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL RIGHT TITLE AND INTEREST IN ALL MONIES PAYABLE TO THE COMPANY IN RESPECT OF THE LEASE RELATING TO ONE BOEING MODEL 767-336ER AIRCRAFT WITH MANUFACTURERS SERIAL NO. 24336 AND UK REGISTRATION MARK G-BNWD SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (17/20)
Date charge registered :	23/07/2004
Charge type :	BA SECURITY ASSIGNMENT
Latest form type :	[395] Mortgage or charge registration
Date charge created :	14/07/2004
Lender :	LBI HOLDINGS LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL RIGHT TITLE AND INTEREST IN ALL MONIES PAYABLE TO THE COMPANY IN RESPECT OF THE LEASE RELATING TO ONE BOEING MODEL 767-336ER AIRCRAFT WITH MANUFACTURERS SERIAL NO. 24335 AND UK REGISTRATION MARK G-BNWC SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (18/20)
Date charge registered :	23/07/2004
Charge type :	BA SECURITY ASSIGNMENT
Latest form type :	[395] Mortgage or charge registration
Date charge created :	14/07/2004
Lender :	LBI HOLDINGS LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL RIGHT TITLE AND INTEREST IN ALL MONIES PAYABLE TO THE COMPANY IN RESPECT OF THE LEASE RELATING TO ONE BOEING MODEL 767-336ER AIRCRAFT WITH MANUFACTURERS SERIAL NO. 24334 AND UK REGISTRATION MARK G-BNWB SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (19/20)
Date charge registered :	23/07/2004
Charge type :	B A SECURITY ASSIGNMENT
Latest form type :	[395] Mortgage or charge registration
Date charge created :	14/07/2004
Lender :	LBI HOLDINGS LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ALL RIGHT TITLE AND INTEREST IN ALL MONIES PAYABLE TO THE COMPANY IN RESPECT OF THE LEASE RELATING TO ONE BOEING MODEL 767-336ER AIRCRAFT WITH MANUFACTURERS SERIAL NO. 24333 AND UK REGISTRATION MARK G-BNWA SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge (20/20)
Date charge registered :	23/07/2004
Charge type :	ASSIGNMENT OF INSURANCES
Latest form type :	[395] Mortgage or charge registration
Date charge created :	14/07/2004
Lender :	LBI HOLDINGS LIMITED
Secured on :	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details :	ANY POLICIES AND CONTRACTS OF INSURANCE AND ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT BEING ONE BOEING MODEL 767-336ER AIRCRAFT WITH MANUFACTURERS SERIAL NO. 24333 AND UK REGISTRATION MARK G-BNWA SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Credit advice

Credit rating :	£500,000+	Risk score :	96 out of 100
Credit Opinion :	Considered equal to engagements.
Risk analysis :	The risk index allocated to BRITISH AIRWAYS PLC is based on an analysis of the findings recorded above. In the light of the information available, the company has been found to be not only substantial in size but very sound in both trading performance and Balance Sheet strength. There is, therefore, no hesitation in awarding minimum risk status.

Characteristics

Date incorporated

Date incorporated :	13/12/1983

Legal form

Legal form :	PLC

Capitals

Capitals :	270.725.729 GBP

Staff

Staff employed :	51.939 Person(s)

Bank

Banking relationships :	BARCLAYS BANK PLC
Address :	P.O. BOX 544 54 LOMBARD ST. LONDON EC3V 9EX
Bank sort code :	200000

Activity (ies)

	NACE Classification		SIC Classification

1.	[6210] Scheduled air transport		[4522] Air transportation, non-scheduled [4512] Air transportation, scheduled

Open-ended data

Previous address(es)

Until 26/02/1998 :	SPEEDBIRD HOUSE HEATHROW AIRPORT (LONDON) HOUNSLOW TW6 2JA

Management

Current directors

Name :	DR ASHOK SEKHAR GANGULY
Address :	233, CRANMER COURT, LONDON, WHITEHEADS GROVE, SW3 3HD
Birthdate :	28/07/1935
Nationality :	INDIAN
Occupation :	DIRECTOR
Date appointed :	12/04/1996

Name :	RODERICK IAN EDDINGTON
Address :	SOUTHLAKE HOUSE, THE STREET, READING, SHURLOCK ROW, RG10 0PS
Birthdate :	02/01/1950
Nationality :	AUSTRALIAN
Occupation :	DIRECTOR
Date appointed :	12/05/2000

Name :	MARTIN FAULKNER BROUGHTON
Address :	ROSEMARY HOUSE, WOODHURST PARK, OXTED, RH8 9HA, SURREY
Birthdate :	15/04/1947
Nationality :	BRITISH
Occupation :	CHARTERED ACCOUNTANT
Date appointed :	12/05/2000

Name :	DOCTOR MARTIN PETER READ
Address :	WOLVERSDENE, HOE ROAD, SOUTHAMPTON, BISHOPS WALTHAM, SO32 1DU, HANTS
Birthdate :	16/02/1950
Nationality :	BRITISH
Occupation :	CHIEF EXECUTIVE
Date appointed :	12/05/2000

Name :	LORD RENWICK OF CLIFTON ROBIN WILLIAM RENWICK
Address :	42, JUBILEE PLACE, LONDON, SW3 3TQ
Birthdate :	13/12/1937
Nationality :	BRITISH
Qualifications :	KCMG
Occupation :	BANKER
Date appointed :	01/03/1996

Name :	MICHAEL ANTHONY STREET
Address :	SPINNEY CLOSE, WINKFIELD LANE, WINDSOR, WINKFIELD, SL4 4QU, BERKS
Birthdate :	06/08/1947
Nationality :	BRITISH
Qualifications :	FRAES
Occupation :	AIRLINE EXECUTIVE
Date appointed :	08/12/2000

Name :	JOHN FREDERICK RISHTON
Address :	CHERRY TREES, GRIMMS HILL, GREAT MISSENDEN, HP16 9BG, BUCKS
Birthdate :	21/02/1958
Nationality :	BRITISH
Qualifications :	BA ECONOMICS CIMA
Occupation :	CHIEF FINANCIAL OFFICER
Date appointed :	01/09/2001

Name :	MICHAEL JEFFERY
Address :	SHEARWATER, WADEBRIDGE, GREENAWAYS TREBETERICK RO, PL27 6SF, CORNWALL
Birthdate :	24/04/1945
Nationality :	BRITISH
Occupation :	AIRLINE EXECUTIVE
Date appointed :	01/10/2001

Name :	MAARTEN ALBERT VAN DEN BERGH
Address :	EASTWOOD, 7, ALBURY ROAD, WALTON ON THAMES, KT12 5DY, SURREY
Birthdate :	19/04/1942
Nationality :	DUTCH
Occupation :	BANK CHAIRMAN
Date appointed :	16/07/2002

Name :	ALISON CLARE REED
Address :	WATERSIDE HOUSE, 35, NORTH WHARF ROAD, LONDON, W2 1NW
Birthdate :	22/12/1956
Nationality :	BRITISH
Occupation :	CHIEF FINANCIAL OFFICER
Date appointed :	01/12/2003

Name :	DENISE PATRICIA KINGSMILL
Address :	56, HOLLAND PARK, LONDON, W11 3RS
Birthdate :	24/04/1947
Occupation :	LAWYER
Date appointed :	05/11/2004

Previous directors

Name :	SIR MICHAEL R ANGUS
Address :	CERNEY HOUSE, CIRENCESTER, NORTH CERNEY, GL7 7BX, GLOS
Birthdate :	05/05/1930
Position :	CHAIRMAN
Appointed prior to :	31/07/1989
Date resigned :	11/07/2000

Name :	DEREK MAURICE STEVENS
Address :	62, DUKES AVENUE, LONDON, CHISWICK, W4 2AF
Birthdate :	13/11/1938
Appointed prior to :	31/07/2001
Date resigned :	31/08/2001

Name :	CAPTAIN COLIN ANGUS BARNES
Address :	SANDILANDS, GLEBE LANE, FARNHAM, TILFORD, GU10 2EW, SURREY
Birthdate :	06/07/1933
Appointed prior to :	31/07/2001
Date resigned :	30/09/2001

Name :	ROBERT JOHN AYLING
Address :	151, HARTINGTON ROAD, LONDON, SW8 2EY
Birthdate :	03/08/1946
Position :	CHIEF EXECUTIVE
Nationality :	BRITISH
Date appointed :	16/12/1991
Date resigned :	10/03/2000

Name :	THE LORD VINCENT G WHITE OF HULL
Address :	760, PARK AVENUE, NY, NEW YORK, USA
Birthdate :	11/02/1923
Position :	CHAIRMAN
Appointed prior to :	31/07/2001
Resigned prior to :	31/07/2001

Name :	THE LORD KING OF WARTNABY JOHN LEONARD
Address :	WARTNABY, MELTON MOWBRAY, LE14 3HY, LEICESTERSHIRE
Birthdate :	29/08/1917
Position :	CHAIRMAN
Appointed prior to :	31/07/2003
Resigned prior to :	22/02/2003

Name :	BARONESS DETTA O'CATHAIN
Address :	C129, PARLIAMENT VIEW, LONDON, APARTMENTS 1 ALBERT EMBAN, SE1 7XN
Birthdate :	03/02/1938
Nationality :	BRITISH
Qualifications :	OBE
Occupation :	MANAGING DIRECTOR
Date appointed :	27/05/1993
Date resigned :	31/12/2004

Name :	CHARLES D MACKAY
Address :	8, ALEXANDER SQUARE, LONDON, SW3 2AY
Birthdate :	14/04/1940
Date appointed :	27/05/1993
Date resigned :	16/07/1996

Name :	THE HON AMBASSADOR CHARLES H PRICE II
Address :	5049, WORNALL ROAD, KANSAS CITY, APARTMENT 10-11 CD, MISSOURI 64112 USA
Birthdate :	01/04/1931
Nationality :	AMERICAN
Occupation :	BANKER
Appointed prior to :	31/07/1994
Date resigned :	11/07/1995

Name :	LORD MARSHALL OF KNIGHTSBRIDGE COLIN MARSH MARSHALL
Address :	21, MONTPELIER SQUARE, LONDON, SW7 1JR
Birthdate :	16/11/1933
Nationality :	BRITISH
Occupation :	CHAIRMAN
Appointed prior to :	31/07/1992
Date resigned :	20/07/2004

Name :	SIR COLIN MARSH MARSHALL OF KNIGHTSBRIDGE
Address :	21, MONTPELIER SQUARE, LONDON SW7, SW7 1JR
Birthdate :	16/11/1933
Appointed prior to :	31/07/2001
Resigned prior to :	22/02/2003

Name :	THE HONOURABLE RAYMOND GEORGE HARDENBERGH SEITZ
Address :	10, PEMBRIDGE PLACE, LONDON, W2 4XB
Birthdate :	08/12/1940
Nationality :	AMERICAN
Date appointed :	07/04/1995
Date resigned :	16/07/2002

Name :	LORD ROBIN WILLIAM RENWICK
Address :	42, JUBILEE PLACE, LONDON, SW33 3TQ
Birthdate :	13/12/1937
Qualifications :	KCMG
Appointed prior to :	31/07/2001
Resigned prior to :	31/07/2002

Name :	SIR COLIN MARSH MARSHALL OF KNIGHTSBRIDGE
Address :	21, MONTPELIER SQUARE, LONDON, SW7 1JR
Birthdate :	16/11/1933
Appointed prior to :	31/07/2002
Resigned prior to :	22/02/2003

Name :	ANGIE MICHAEL DAVIES
Address :	LITTLE WOOLPIT, CRANLEIGH, EWHURST, GU6 7NP, SURREY
Birthdate :	23/06/1934
Qualifications :	MA FCA
Appointed prior to :	31/07/2001
Date resigned :	16/07/2002

Name :	SIR FRANCIS KENNEDY
Address :	17, CHESHAM STREET, LONDON, SW1X 8ND
Birthdate :	09/05/1926
Qualifications :	KCMG CBE
Appointed prior to :	13/07/1987
Date resigned :	16/07/1996

Financial Links

UK direct subsidiaries

Name	Status	Legal form

AIR RUSSIA LIMITED	Dormant	Private Limited
AIRWAYS AERO ASSOCIATION LIMITED	Live	Private Limited
ANGLO OVERSEAS PROPERTIES LIMITED	Dissolved	Private Limited
BOAC LIMITED	Dormant	Private Limited
BRITISH AIRWAYS (ESPANA) LIMITED	Dormant	Private Limited
BRITISH AIRWAYS (EUROPEAN OPERATIONS AT GATWICK) LIMITED	Live	Private Limited
BRITISH AIRWAYS ASSOCIATED COMPANIES LIMITED	Live	Private Limited
BRITISH AIRWAYS ENGINEERING SERVICES LIMITED	Dissolved	Private Limited
BRITISH AIRWAYS ENGINE OVERHAUL LIMITED	Dissolved	Private Limited
BRITISH AIRWAYS HOLIDAYS LIMITED	Live	Private Limited
BRITISH AIRWAYS PENSION ADMINISTRATION LIMITED	Dormant	Private Limited
BRITISH CALEDONIAN GROUP PUBLIC LIMITED COMPANY	Live	PLC
BRITISH EUROPEAN AIRWAYS LIMITED	Dormant	Private Limited
CALEDONIAN AVIATION SERVICES LIMITED	Dormant	Private Limited
CALEDONIAN LEISURE LIMITED	Dissolved	Private Limited
CAMBRIAN AIRWAYS LIMITED	Dormant	Private Limited
DAVIES & NEWMAN TRAVEL LIMITED	Dissolved	Private Limited
DAVIES AND NEWMAN OFFSHORE SERVICES LIMITED	Dissolved	Private Limited
MIDDLE EAST VISITORS' SERVICES LIMITED	Dissolved	Private Limited
SOVEREIGN HOLIDAYS LIMITED	Dissolved	Private Limited

Overseas subsidiaries

BRITISH AIRWAYS CAPITAL LTD

BRITISH AIRWAYS HOLDINGS LTD

SPEEDBIRD INSURANCE COMPANY LTD

Auditors

Name :	ERNST & YOUNG LLP
Type :	Auditors (No exemptions)
Quality :	No qualification
Date of accounts :	31/03/2004
Auditors remuneration :	1.650.000 GBP
Non audit fee :	508.000 GBP

Financial Data

Type of account :	Group
Accounts reference date :	31 Mar
Date of latest accounts :	31/03/2004
Date of latest returns :	31/07/2004
Auditor/Accountant :	ERNST & YOUNG LLP

Balance-sheet

Date of accounts	31/03/2004	31/03/2003	31/03/2002
Number of weeks	52 (Consolidated)	52 (Consolidated)	52 (Consolidated)
Currency	('000)GBP	('000)GBP	('000)GBP

Land and buildings	1.042.000	1.219.000
Fixtures and fittings	491.000	440.000
Plant and vehicles	7.104.000	7.828.000
Tangible assets	8.637.000	9.487.000	10.509.000
Intangible assets	168.000	164.000	105.000
Other assets	562.000	524.000	489.000
Total fixed assets	9.367.000	10.175.000	11.103.000
Stock	76.000	87.000
Work in progress	0	0
Stock / Work in progress	76.000	87.000	109.000
Trade debtors	676.000	597.000	772.000
Group loans (Assets)	42.000	38.000	43.000
Director loans (Assets)
Other debtors (Assets)	301.000	351.000	416.000
Debtors (Assets)	1.019.000	986.000	1.231.000
Cash at bank	64.000	222.000	64.000
Other current (Assets)	1.606.000	1.430.000	1.155.000
Total current assets	2.765.000	2.725.000	2.559.000
Trade creditors	840.000	982.000	1.091.000
Bank overdraft
Group loans (Liabilities)	32.000	27.000	25.000
Director loans (Liabilities)
Hire purchase (Liabilities)	461.000	362.000	409.000
Leasing (Liabilities)	119.000	124.000	208.000
Hire purchase / Leasing (Liabilities)	580.000	486.000	617.000
Short loans	102.000	57.000	62.000
Corporation tax	6.000	19.000	29.000
Dividends (Liabilities)
Accruals / Deferred income (Liabilities)	987.000	876.000	817.000
Social security / VAT	38.000	41.000	40.000
Other current (Liabilities)	411.000	416.000	520.000
Total current liabilities	2.996.000	2.904.000	3.201.000
Working capital	-231.000	-179.000	-642.000
Capital employed	9.136.000	9.996.000	10.461.000
Group loans (Long term)		0
Director loans (Long term)
Hire purchase (Long term)	1.933.000	2.441.000	2.835.000
Leasing (Long term)	1.978.000	2.430.000	2.404.000
Hire purchase / Leasing (Long term)	3.911.000	4.871.000	5.239.000
Other long term loans	1.235.000	1.387.000	1.483.000
Accruals / Deferred income (Long term)	326.000	272.000	236.000
Other long term liabilities	14.000	23.000	139.000
Total long term liabilities	5.486.000	6.553.000	7.097.000
Deferred taxation	1.137.000	1.062.000	1.031.000
Other provisions	85.000	107.000	126.000
Total provisions	1.222.000	1.169.000	1.157.000
Minority interests	-210.000	-216.000	-191.000
Total net assets	2.218.000	2.058.000	2.016.000
Issued capital (Accounts)	271.000	271.000	271.000
Share premium accounts	788.000	788.000	788.000
Revaluation reserve	262.000	270.000	270.000
Retained earnings	897.000	729.000	687.000
Other reserves	0	0	0
Total shareholder's funds	2.218.000	2.058.000	2.016.000
Net worth	2.050.000	1.894.000	1.911.000

Profit and loss

Date of accounts	31/03/2004	31/03/2003	31/03/2002
Number of weeks	52 (Consolidated)	52 (Consolidated)	52 (Consolidated)
Currency	('000)GBP	('000)GBP	('000)GBP

Turnover (UK)	3.731.000	3.634.000	863.000
Turnover (Export)	3.829.000	4.054.000	7.477.000
Total turnover	7.560.000	7.688.000	8.340.000
Cost of sales	7.008.000	7.263.000	8.291.000
Total expenses
Gross profit	552.000	425.000	49.000
Deprecation	669.000	726.000	725.000
Other expenses	147.000	134.000	81.000
Operating profit	405.000
Other income	92.000	73.000	148.000
Interest payable	279.000	328.000	381.000
Exceptional items	12.000	99.000	65.000
Discontinued operations	0	0	0
Pre-tax profit/loss	230.000	135.000	-200.000
Tax payable/credit	85.000	50.000	-71.000
Extraordinary items/debit	0	0	0
Minority interests	-15.000	-13.000	-13.000
Dividends	0	0	0
Retained profit/loss	130.000	72.000	-142.000

Company ratios

Liquidity ratios
Date of accounts	31/03/2004	31/03/2003	31/03/2002
	Consolidated	Consolidated	Consolidated

Current ratio	0,92	0,94	0,80
Acid test	0,90	0,91	0,77
Stock turnover	99,47	88,37	76,51
Credit period (days)	32,64	28,34	33,79
Working capital / Sales (%)	-3,06	-2,33	-7,70
Trade creditors / Trade debtors	1,24	1,64	1,41

Profitability ratio
Return on capital (%)	2,52	1,35	-1,91
Return on assets (%)	1,90	1,05	-1,46
Pre-tax profit margin (%)	3,04	1,76	-2,40
Return on shareholders funds (%)	10,37	6,56	-9,92
Number of employees	51.939	57.014	61.460
Employee remuneration (K£)	1.835.000	1.769.000	1.973.000
Directors' remuneration (K£)	1.782	1.653	1.502

Gearing ratios
Borrowing ratio (%)	285,85	360,51	388,59
Equity gearing (%)	18,28	15,95	14,76
Debt gearing (%)	251,02	330,41	351,75
Interest cover	0,82	0,41	-0,52

Productivity ratios
Sales / Tangible assets (%)	0,88	0,81	0,79
Average remuneration / Employee (£)	35.330	31.027	32.102
Profit / Employee (£)	4.428	2.368	-3.254
Sales / Employee (£)	145.555	134.844	135.698
Capital employed / Employee (£)	175.899	175.325	170.208
Tangible assets / Employee (£)	166.291	166.398	170.989
Total assets / Employee (£)	233.582	226.260	222.291
Employee remuneration / Sales (%)	24,27	23,01	23,66

Industry ratios


Quartiles based on 1212 similar companies in 1980 SIC code [7500] AIR TRANSPORT
	Company		Industry
Date of accounts : 31/03/2004 (Consolidated)		Lower	Median	Upper
Liquidity ratios
Current ratio	0,9	0,2	1,0	1,7
Acid test	0,9	0,2	0,9	1,6
Stock turnover	99,5	13,4	50,0	143,2
Credit period (days)	32,6	0,7	24,2	52,0
Working capital / Sales (%)	-3,1	-24,0	1,3	17,3
Trade creditors / Trade debtors	1,2	0,3	0,7	1,8

Profitability ratio
Return on capital (%)	2,5	-5,2	9,7	47,8
Return on assets (%)	1,9	-12,3	0,9	10,7
Pre-tax profit margin (%)	3,0	-17,6	1,8	11,8
Return on shareholders funds (%)	10,4	-0,5	18,6	68,4

Gearing ratios
Borrowing ratio (%)	285,8	-99,8	0,0	42,2
Equity gearing (%)	18,3	-14,7	22,2	76,4
Debt gearing (%)	251,0	0,0	0,0	0,0
Interest cover (%)	0,8	-6,0	0,6	7,5

Productivity ratios
Sales / Tangible assets (%)	0,9	0,5	4,2	33,1
Average remuneration / Employee (£)	35.330	22.541	29.833	38.957
Profit / Employee (£)	4.428	-6.587	4.317	14.150
Sales / Employee (£)	145.555	84.352	154.428	269.222
Capital employed / Employee (£)	175.899	7.829	45.857	137.352
Tangible assets / Employee (£)	166.291	2.768	18.844	94.344
Total assets / Employee (£)	233.582	55.705	110.060	282.186
Employee remuneration / Sales (%)	24,3	3,8	15,0	28,6

Payment profile

Payment summary

Based on the information from our sources :
This company pays consistent with the industry average.
There is a consistent payment pattern.
This company has 3 outstanding unpaid accounts.
This company pays beyond terms.

Current days beyond terms

Days beyond terms (DBT) for Jan 2005
Company :	32
Number of accounts :	76
DBT(Month to date) :	32
Number of accounts(Month to date) :	72
Industry :	24
Industry type for comparison :	Transport and communication

Days beyond terms trend

Trend	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Jan
Company	41	42	41	35	29	27	25	29	34	35	31	32
Industry	22	22	22	22	22	23	22	23	25	26	25	24

Average	Current	Last 3 months	Last 6 months	Last 12 months
Company	32	33	31	34
Industry	24	25	24	23

Days beyond terms breakdown

Payment performance by size of account for Jan 2005

	£1 - £1.000	£1.001 - £10.000	£10.001 - £100.000	£100.001 +
Company	65	0	4	0
Industry	22	29	25	25

Payment by different terms

Description	DBT	Accounts
Net 30 days	41	32
Net 18 days	0	21
Net 60 EOM	0	5
Net 30 EOM	0	3
Others/Unknown	76	15

Commentary

This company pays its main suppliers faster than small creditors.

This company pays its accounts on average 32 days beyond terms.

The payment information we have for this company over the last 6 months available shows a consistent payment pattern.

Trends Business Information - Raketstraat 50 box 20, 1130 Brussels (Belgium) E-mail: webmaster@trends-business-information.be - Phone: +32 (0)2 702 70 11 - Fax: +32 (0)2 702 71 51