British Airways Plc

Registered No. 01777777

Company Overview
Registered Office Address Trading Address
Waterside Waterside
Po Box 365 Po Box 365
Harmondsworth Harmondsworth
West Drayton UB7 0GB
UB7 0GB
Latest Filed Accounts
TradeAddressTown 31/03/2010
West Drayton
Date Of Analysis
TradeAddressCounty 18/06/2010
Middlesex
Type of Accounts
TradeAddressCountry Group
GB
Latest Annual Return
Telephone 31/07/2010
08444-930787
Company Status
SIC Code Quoted
62100
Incorporation Type
SIC Description Public limited with share capital
Scheduled air transport
Principal Activities
Date of Incorporation A group engaged in the operation of
13/12/1983 international & domestic scheduled air
services for carriage of passengers, freight
Date Accounts Lodged & mail & the provision of ancillary services.
05/08/2010 T/O = revenue.

Auditor
Ernst & Young LLP
P&L
Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Consolidated Yes Yes Yes Yes Yes

Subsidiary No No No No No

No. Of Weeks 52 52 52 52 52

Currency £000's £000's £000's £000's £000's

Audit qualification Clean Report Clean Report Clean Report Clean Report Clean Report

Turnover 7,994,000 8,992,000 8,758,000 8,492,000 8,213,000

Cost of Sales - - - - -

Gross Profit - - - - -

Operating Profit (231,000) (220,000) 878,000 602,000 694,000

Non-Trading Income (27,000) 18,000 219,000 196,000 866,000

Interest Payable 273,000 199,000 175,000 187,000 944,000

Pre-tax Profit (531,000) (401,000) 922,000 611,000 616,000

Taxation (106,000) (43,000) 194,000 173,000 152,000

Profit After Tax (425,000) (358,000) 728,000 438,000 464,000

Dividends 0 56,000 0 0 0

Retained Profit 182,000 (1,416,000) 712,000 290,000 451,000

Turnover and Pre-Tax Profit Trend Graph
Balance Sheet
Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Consolidated Yes Yes Yes Yes Yes

Subsidiary No No No No No

Currency £000's £000's £000's £000's £000's

No. of Weeks 52 52 52 52 52

Audit qualification Clean Report Clean Report Clean Report Clean Report Clean Report

Tangible fixed assets 6,904,000 7,233,000 7,263,000 7,357,000 7,882,000

Intermediate assets 830,000 642,000 697,000 376,000 390,000

Intangible assets 269,000 267,000 221,000 212,000 233,000

Total fixed assets 8,003,000 8,142,000 8,181,000 7,945,000 8,505,000

Stocks 98,000 127,000 112,000 76,000 83,000

Trade debtors 499,000 530,000 586,000 654,000 685,000

Cash 1,714,000 1,381,000 1,864,000 2,355,000 398,000

Misc. current assets 363,000 308,000 549,000 354,000 2,503,000

Total current assets 2,674,000 2,346,000 3,111,000 3,439,000 3,669,000

Creditors: amounts 3,740,000 4,153,000 3,492,000 3,625,000 3,432,000

falling due within one
year

Net current assets (1,066,000) (1,807,000) (381,000) (186,000) 237,000

Capital Employed 6,937,000 6,335,000 7,800,000 7,759,000 8,742,000

Total long term 5,024,000 4,689,000 4,738,000 5,548,000 6,881,000

liabilities

Total liabilities 8,764,000 8,842,000 8,230,000 9,173,000 10,313,000

Net Worth 1,913,000 1,646,000 3,062,000 2,211,000 1,861,000

Share capital 1,347,000 1,276,000 1,450,000 1,308,000 1,272,000

P&L account reserve 741,000 1,154,000 1,612,000 903,000 589,000

Other reserve (175,000) (784,000) 0 0 0

Shareholders' funds 1,913,000 1,646,000 3,062,000 2,211,000 1,861,000

Working capital (1,066,000) (1,807,000) (381,000) (186,000) 237,000

Net worth (Less 1,644,000 1,379,000 2,841,000 1,999,000 1,628,000

intangibles)
Balance Sheet Chart
Ownership
Holding Company
-

Ultimate Holding Company

-

Subsidiaries
Company Name RegistrationNo Turnover (£000's) Status

Caledonian Aviation Services Limited 00028480 - Not Analysed

British Caledonian Airways Limited 00233961 - Dormant

Openskies Aviation Limited 00297907 - Dormant

Cambrian Airways Limited 00300103 - Not Analysed

Boac Limited 00385186 - Dormant

British Airways Pension 00434180 - Dormant

Administration Limited

British Airways (Espana) Limited 00437440 - Dormant

Caledonian Leisure Limited 00516146 45,604 Not Analysed

Cantrill (Birmingham) Limited 00516148 - -

British Airways (European Operations 00519947 358,099 Dormant

At Gatwick) Limited

Davies And Newman Offshore Services 00523319 - Not Analysed

Limited

British Airways Engineering Services 00545942 707 Dormant

Limited

British Airways Holidays Limited 00554278 97,301 Large

Air Miles Travel Promotions Limited 00574670 - Dormant

British Airways Associated Companies 00590083 0 Small

Limited

Middle East Visitors' Services Limited 00596136 - Not Analysed

Davies & Newman Travel Limited 00674919 58 Not Analysed

Sovereign Holidays Limited 00855631 - Not Analysed

Alta Hoildays Limited 00858677 35,355 Not Analysed

British Airways Engine Overhaul 00895062 - Dormant

Limited

Dan-Air Services Limited 00907539 - Dormant

Ba Miles Limited 01004937 - Dormant

Aviation Support Services Limited 01018043 554 Not Analysed

Company Name RegistrationNo Turnover (£000's) Status

Dan-Air Aviation Limited 01025107 1,710 Not Analysed

Caledonian Aviation Investments 01112513 - Not Analysed

Limited

British Airways Visitors' Services 01467993 1,149 Dormant

Limited

Dunwoody Airline Services (Holdings) 01899007 22,893 Large

Limited

Speedwing Training Limited 01920826 - Dormant

British Airways (No. 2) Limited 01953275 41,378 Not Analysed

The Plimsoll Line Limited 01967358 0 Small

British Airways Helicopters Limited 02047074 - Not Analysed

Web Travel Systems Limited 02070671 288 Dormant

Chameleon Training & Consulting 02078520 3,963 Dormant

Limited

British Caledonian Pensions Trustees 02179712 0 Dormant

Limited

British Airways Maintenance Cardiff 02204178 43,738 Large

Limited

Aviation Defence Limited 02230279 - Dormant

British Airways Medical Services For 02231524 1,457 Dissolved Company

Travellers Abroad Limit

British Airways (No 1) Limited 02252026 - Dormant

The Mileage Company Limited 02260073 93,397 Large

Speedwing International Limited 02512054 0 Small

Speedwing Airsystems Limited 02524174 - Dormant

British Airways Travel Shops Limited 02524175 13,443 Dormant

Uniquepoint Limited 02552680 0 Not Analysed

British Airways Regional Limited 02562966 8,642 Non-Trading

Ba Cityflyer Limited 02571224 72,998 Large

Remotereport Trading Limited 02775089 0 Dormant

British Airways Avionic Engineering 02775232 29,579 Large

Limited

British Asia Airways Limited 02783616 0 Dissolved Company

Global Aviation Funding Limited 02823134 0 Dormant

British Airways Interior Engineering 03109109 21,239 Large

Limited
Company Name RegistrationNo Turnover (£000's) Status

Overseas Air Travel Limited 03129251 41,785 Large

Britair Holdings Limited 03537574 0 Small

British Airways Quest Limited 03653266 - Dormant

Emg Marketing Limited 03673252 - Dormant

Rathreed Limited 03674126 0 Dormant

British Airways Global Financial 03707950 319 Dormant

Services Limited

Ba And Aa Holdings Limited 03840072 0 Small

Teleflight Limited 03918190 21,050 Large

British Airways Mileage Company 04068684 0 Dormant

Limited

British Airways Leasing Limited 04150220 13,478 Large

British Airways Financial Services 04251125 517 Dormant

Limited

British Airways Pension Trustee (No. 04560789 - Not Analysed

2) Limited

British Airways 777 Leasing Limited 04954270 4,179 Large

British Airways Connect Limited 05553014 - Not Analysed

British Airways Citiexpress Limited 05553024 - Not Analysed

Ba European Limited 06346489 0 Large

British Caledonian Group Limited SC036382 0 Small

British Regional Airlines (Scotland) SC043547 - Dormant

Limited

Share Capital Structure

Class Of Shares Par Value (pence) Issued Capital Nominal Capital (£) SEDOL

Ordinary Shares 25 288,000,000 378,000,000 129057

Shareholders
Shareholder Name Class Shares % Holder Type Beneficial Owner

Janus Capital Ordinary Shares 7.15 Institution Beneficial name

Management Llc

Standard Life Plc Et Al Ordinary Shares 7.34 Institution Beneficial name

Shareholder Name Class Shares % Holder Type Beneficial Owner

Black Rock Advisors Et Al Ordinary Shares 13.86 Institution Beneficial name

Lloyds Banking Group Plc Et Al Ordinary Shares 6.30 Institution Beneficial name

Legal & General Group Plc Ordinary Shares 3.98 Institution Beneficial name

Iberia Lineas Aereas De Espana S.A. Ordinary Shares 9.07 Institution Beneficial name

Axa Investments Et Al Ordinary Shares 4.85 Institution Beneficial name

Invesco Plc Et Al Ordinary Shares 4.30 Institution Beneficial name

Appointments
Full Name Appointment D.O.B. Appointment Resignation
Date Type Date

Kenneth James Mowbray - 01/09/1942 Secretary 01/01/1996

Walder

Charles Harry Price Ii - 01/04/1931 Director 11/07/1995

John Leonard King Of - 29/08/1917 Director 31/07/1993

Wartnaby

Robert John Ayling - 03/08/1946 Director 10/03/2000

Angie Michael Davies 31/07/1992 23/06/1934 Director 16/07/2002

Colin Angus Barnes 31/07/1992 06/07/1933 Director 30/09/2001

Derek Maurice Stevens 31/07/1992 13/11/1938 Director 31/08/2001

Michael Richardson Angus 31/07/1992 05/05/1930 Director 11/07/2000

Francis Kennedy 31/07/1992 09/05/1926 Director 16/07/1996

Colin Marsh Marshall 31/07/1992 16/11/1933 Director 20/07/2004

Charles Dorsey Mackay 27/05/1993 14/04/1940 Director 16/07/1996

Detta O'Cathain 27/05/1993 03/02/1938 Director 31/12/2004

Raymond George 07/04/1995 08/12/1940 Director 16/07/2002

Hardenbergh Seitz

Gail Felicity Redwood 01/01/1996 03/01/1949 Secretary 01/04/2000

Robin Renwick Of Clifton 01/03/1996 13/12/1937 Director 19/07/2005

Ashok Sekhar Ganguly 12/04/1996 28/07/1935 Director 19/07/2005

Alan Kerr Buchanan 01/04/2000 16/06/1958 Secretary -

Roderick Ian Eddington 12/05/2000 02/01/1950 Director 30/09/2005

Martin Faulkner Broughton 12/05/2000 15/04/1947 Director -

Martin Peter Read 12/05/2000 16/02/1950 Director 14/07/2009

Michael Anthony Street 08/12/2000 06/08/1947 Director 30/09/2005

John Frederick Rishton 01/09/2001 21/02/1958 Director 31/12/2005

Michael Jeffery 01/10/2001 24/04/1945 Director 19/07/2005

Maarten Albert Van Den 16/07/2002 19/04/1942 Director 21/01/2011

Bergh

Alison Clare Reed 01/12/2003 22/12/1956 Director -

Denise Patricia Byrne 05/11/2004 24/04/1947 Director 21/01/2011

Kingsmill

William Matthew Walsh 03/05/2005 25/10/1961 Director 21/01/2011

Elizabeth Conway Symons 19/07/2005 14/04/1951 Director 21/01/2011

Full Name Appointment D.O.B. Appointment Resignation
Date Type Date

Martin Peter George 19/07/2005 19/05/1962 Director 09/10/2006

Kenneth Peter Ross Smart 19/07/2005 28/04/1946 Director -

Chumpol Na Lamlieng 01/11/2005 25/04/1947 Director 14/07/2009

Keith Williams 01/01/2006 13/05/1956 Director -

James Arthur Lawrence 01/11/2006 18/10/1952 Director 21/01/2011

Rafael Sanchez-Lozano 11/12/2009 20/02/1957 Director -

Turmo

Francois Hubert Marie Van 17/01/2011 28/09/1961 Director 17/01/2011

Der Post

Francois Hubert Marie Van- 17/01/2011 28/09/1961 Director -

Der-Post

Andrew George Crawley 21/01/2011 13/12/1966 Director -

Enrique Dupuy-De-Lome 21/01/2011 24/03/1957 Director -

Gavin Echlin Patterson 01/02/2011 06/09/1967 Director -

Cash Flow
Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Consolidated Yes Yes Yes Yes Yes

Subsidiary No No No No No

Number of Weeks 52 52 52 52 52

Currency

Audit Qualification Clean Report Clean Report Clean Report Clean Report Clean Report

Net Cash Flow from 461,000 307,000 551,000 1,072,000 1,607,000

Operating Activities
£000's

Net Cash Flow from ROI (68,000) 89,000 (76,000) (88,000) (125,000)
and Servicing of
Finance £000's

Increase in Cash £000's 344,000 (289,000) (1,000) 331,000 357,000

Net Cash Flow from Operating Activities

Profitability
Ratios

Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Return on Total Assets (5.0) (3.8) 8.2 5.4 5.1

Return on Capital (7.7) (6.3) 11.8 7.9 7.0

Pre-tax Profit Margin (6.6) (4.5) 10.5 7.2 7.5

Liquidity Ratios

Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Quick Ratio (Acid Test) 0.69 0.53 0.86 0.93 1.04

Current Ratio 0.71 0.56 0.89 0.95 1.07

Gearing Ratios

Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Total Debt/Net Worth 244.9 316.8 113.0 168.8 252.9

Equity Gearing 21.8 18.6 37.2 24.1 18.0

Efficiency Ratios

Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Debtor Days 23 22 24 28 30
Outstanding

Stocks/Sales 1.2 1.4 1.3 0.9 1.0

Sales/Capital Employed 1.2 1.4 1.1 1.1 0.9

Sales/Fixed Assets 1.2 1.2 1.2 1.2 1.0

Asset Utilisation 0.75 0.86 0.78 0.75 0.67

Employee
Performance
Ratios

Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Pay/Employee (£'s) 32,438 32,587 31,724 31,662 31,187

Employee
Performance
Ratios

Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Profit/Employee (£'s) (12,797) (8,914) 20,425 12,711 12,331

Sales/Employee (£'s) 192,654 199,880 194,019 176,659 164,401

Account Notes
Date of Accounts 31/03/2010 31/03/2009 31/03/2008 31/03/2007 31/03/2006

Exports £000's 4,358,000 4,795,000 4,396,000 4,332,000 -

Employee 1,346,000 1,466,000 1,432,000 1,522,000 1,558,000

Remuneration £000's

Directors Remuneration 2,255 1,937 2,079 2,811 5,042

£000's

Audit Fees £000's 2,151 2,234 2,256 2,291 2,221

Non Audit Fees £000's 1,504 2,083 764 2,034 953

Depreciation £000's 672,000 723,000 661,000 777,000 688,000

Actual No. of Employees 41,494 44,987 45,140 48,070 49,957

Trade Creditors £000's 623,000 666,000 648,000 723,000 752,000

Bank Overdraft £000's 0 0 0 0 0

Misc Current Liabilities 3,117,000 3,487,000 2,844,000 2,902,000 2,680,000

£000's

Bank Loans £000's 139,000 69,000 113,000 68,000 86,000

Other Short Term 429,000 1,102,000 330,000 367,000 410,000

Finance £000's

Due to Group, Current 0 0 0 0 0

£000's

Due to Directors, 0 0 0 0 0
Current £000's

Other Current Liabilities 2,549,000 2,316,000 2,401,000 2,467,000 2,184,000

£000's

Long Term Bank Loans 3,458,000 3,197,000 2,768,000 2,940,000 3,621,000

£000's

Other Long Term 1,566,000 1,492,000 1,970,000 2,608,000 3,260,000

Finance £000's

Due to Group, Non- 0 0 0 0 0

Current £000's

Due to Directors, Non- 0 0 0 0 0

Current £000's

Other Long Term 1,566,000 1,492,000 1,970,000 2,608,000 3,260,000

Liabilities £000's

Called Up Share Capital 1,347,000 1,276,000 1,450,000 1,308,000 1,272,000

£000's

Sundry Reserves £000's 1,059,000 988,000 1,162,000 1,020,000 989,000