For: British Airways Ltd

British Airways plc (lse: BAY) is the national flag carrier of the United Kingdom. The airline is the largest airline in the United Kingdom based on fleet size, international flights and international destinations. Its main hubs are London Heathrow and London Gatwick.

The British Airways Group was formed on 1 September 1974 through nationalisation by the (then) Labour Government. BA was formed from two large London-based airlines BOAC and BEA and two much smaller regional airlines Cambrian Airways Cardiff and Northeast Airlines Newcastle. All four companies were dissolved on 31 March 1974 to form British Airways (BA). The company was privatised in February 1987. It expanded with the acquisition of British Caledonian in 1988 and some of the routes of Gatwick-based carrier Dan-Air in 1992. The formation of Richard Branson's Virgin Atlantic in 1984 began a tense relationship with BA which ended in "one of the most bitter and protracted libel actions in aviation history" in 1993 in which BA apologised "unreservedly" for a "dirty tricks" campaign against Virgin and paid damages and legal costs.

For a number of years the airline had a large Boeing fleet, but in November 1998 it placed its first direct order for Airbus aircraft. The company's next major order was the start of its replacement of its long haul fleet, ordering Airbus A380s and Boeing 787s in 2007. The centrepiece of the airline's long haul fleet is the Boeing 747-400; the airline is the largest operator of this type in the world.

British Airways has discontinued all direct overseas and internal flights from UK airports other than from Heathrow and Gatwick. BA's UK passengers originating at non-London airports must now connect via London or use other airlines with direct services.

British Airways is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Until 2008 British Airways was the largest airline of the United Kingdom, measured by passenger numbers. In 2008 the airline carried 35.7 million passengers. Rival United Kingdom carrier EasyJet carried 44.5 million passengers in the same year, taking the title from British Airways.

History

Meanwhile a number of smaller UK air transport companies had begun operating, and some of these merged in 1935 to form the original privately owned British Airways Ltd. Following a government review, Imperial Airways and British Airways were nationalised in 1939 to form the British Overseas Airways Corporation (BOAC).