FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Report of Foreign Issuer
Furnished Pursuant to Rule 13a - 16 or 15d - 16 of the
Securities Exchange Act of 1934
For the period ending 6 August 2003
BRITISH AIRWAYS Plc
Waterside HBA3, PO Box 365, Harmondsworth UB7 0GB
CONTENTS
1. S198 Notification by the Capital Group
4 August 2003
2. Traffic and Capacity Statistics for July
5 August 2003
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorised.
BRITISH AIRWAYS Plc
Date: 6 August 2003
Sarah Billington Manager Shareholder Services
SCHEDULE 10
NOTIFICATION OF MAJOR INTERESTS IN SHARES
1. Name of company
British Airways Plc
2. Name of shareholder having a major interest
The Capital Group Companies Inc.
3. Please state whether notification indicates that it is in respect of holding of the
shareholder named in 2 above or in respect of a non-beneficial interest or in the case of
an individual holder if it is a holding of that person's spouse or children under the age
of 18
As above
4. Name of the registered holder(s) and, if more than one holder, the number of shares
held by each of them
State Street Nominees Limited 9,048,996
Chase Nominees Limited 63,483,500
5. Number of shares / amount of stock acquired
N/A
6. Percentage of issued class
7. Number of shares / amount of stock disposed
3,576,304
8. Percentage of issued class
0.33%
9. Class of security
ordinary shares of 25p
10. Date of transaction
Not known
11. Date company informed
4 August 2003
12. Total holding following this notification
72,532,496
13. Total percentage holding of issued class following this notification
6.69%
14. Any additional information
15. Name of contact and telephone number for queries
Alan Buchanan, 020 8738 5119
16. Name and signature of authorised company official responsible for making this
notification
Alan Buchanan, Company Secretary
Date of notification
4 August 2003
The FSA does not give any express or implied warranty as to the accuracy of this document
or material and does not accept any liability for error or omission. The FSA is not liable
for any damages (including, without limitation, damages for loss of business or loss of
profits) arising in contract, tort or otherwise from the use of or inability to use this
document, or any material contained in it, or from any action or decision taken as a
result of using this document or any such material.
TRAFFIC AND CAPACITY STATISTICS - July 2003
Summary of the headline figures
In July 2003, overall load factor fell 2.2 points to 67.9 per cent. Passenger capacity,
measured in Available Seat Kilometres, was 3.0 per cent above July 2002 and traffic,
measured in Revenue Passenger Kilometres, was higher by 2.5 per cent. This resulted in a
passenger load factor down 0.3 points versus last year, to 76.4 per cent. The increase in
traffic comprised a 1.7 per cent reduction in premium traffic and a 3.2 per cent increase
in non-premium traffic. The statistics are distorted by the unofficial strike action which
occurred during the month and has impacted both Available Seat Kilometres and Revenue
Passenger Kilometres by some 2 percentage points. Cargo, measured in Cargo Tonne
Kilometres, fell by 7.8 per cent affected by both the strike action and the temporary
closure of the Ascentis World Cargo Centre for maintenance work.
Market conditions
Market conditions are broadly unchanged from last month, the outlook still fragile with
traffic volumes remaining very sensitive to yield. Seat factors are expected to continue
at close to last year's levels. We expect that revenue in the second quarter will be lower
than last year.
Strategic Developments
British Airways posted a pre-tax loss of £45 million (2002: £65 million
profit) for the first quarter to June 30, 2003. The operating profit for the first quarter
was £40 million (2002: £158 million profit). The deterioration in
operating profit reflects the significant reduction in revenue due to continuing economic
weakness, the war in Iraq and the impact of SARS. This was partially offset by cost
savings delivered through the airline's Future Size and Shape recovery programme.
British Airways announced that the airline had reached agreement with staff over the
introduction of its electronic swiping in and out system and that the trades unions
concerned had agreed to remove the threat of industrial action. The direct cost of the
unofficial industrial action will be in the range £30 million to £40
million reflecting costs incurred and lost revenue.
British Airways announced its route schedule for the winter 2003 season. The new schedule
reflects the airlines strategy of focusing on more profitable routes. The network changes,
which start on October 26, 2003 unless specified, are:
* A new service from London Gatwick to Turin which will operate on a daily basis until
December, 2003, when a twice daily service commences. In addition, from April, 2004, there
will be a new service from London Gatwick to Dubrovnik in Croatia which will operate three
times each week.
* A new twice daily service from Manchester to Copenhagen, operated by British Airways
CitiExpress.
* Additional frequencies from London Gatwick to the Caribbean commencing in December 2003.
Flights to Antigua will increase from seven to 10 each week and flights to Barbados will
increase from eight to 10 each week.
* Flights to Bilbao in Spain will switch from London Gatwick to London Heathrow.
* Services from London Gatwick to Bremen and Brussels will be suspended from September 1,
2003, and the service between London Gatwick and Dusseldorf will be suspended from October
1, 2003. The service between London Heathrow and Zagreb in Croatia will be suspended from
September 14, 2003, and the service between London Heathrow and San Diego will be
suspended from October 26, 2003.
August 5, 2003
BRITISH AIRWAYS MONTHLY TRAFFIC AND CAPACITY STATISTICS
Month of July
Financial year to date
April through July
BRITISH AIRWAYS GROUP * Change
*
Change
SCHEDULED SERVICES 2003 2002 (%)
2003 2002
(%)
Passengers carried (000)
UK/Europe 2258 2312 -2.3
9439 9165
+3.0
Americas 651 621 +4.7
2464 2304
+7.0
Asia Pacific 127 140 -9.4
399 516
-22.6
Africa and Middle East 235 214 +9.9
842 795
+5.8
Total 3270 3287 -0.5
13144 12779
+2.9
Revenue passenger km (m)
UK/Europe 1972 1934 +2.0
7777 7330
+6.1
Americas 4338 4187 +3.6
16490 15515
+6.3
Asia Pacific 1345 1435 -6.3
4310 5250
-17.9
Africa and Middle East 1537 1408
+9.2 5662
5280 +7.2
Total 9191 8963 +2.5
34239 33375
+2.6
Available seat km (m)
UK/Europe 2655 2574 +3.2
11257 10507
+7.1
Americas 5468 5330 +2.6
21051 21051
-0.0
Asia Pacific 1847 1788 +3.3
6693 6863
-2.5
Africa and Middle East 2067 1991
+3.8 7998
7947 +0.6
Total 12037 11682 +3.0
46999 46368
+1.4
Passenger load factor (%)
UK/Europe 74.3 75.1 -0.8
pts 69.1 69.8
-0.7 pts
Americas 79.3 78.6 +0.7
pts 78.3 73.7
+4.6 pts
Asia Pacific 72.8 80.3 -7.5
pts 64.4 76.5
-12.1 pts
Africa and Middle East 74.4 70.7
+3.7 pts 70.8
66.4 +4.4 pts
Total 76.4 76.7 -0.3
pts 72.8 72.0
+0.8 pts
Revenue tonne km (RTK) (m)
Cargo tonne km (CTK) 333 362 -7.8
1387 1409
-1.6
Total RTK 1254 1258 -0.3
4801 4738
+1.3
Available tonne km (m) 1846 1794
+2.9 7163
7125 +0.5
Overall load factor (%) 67.9 70.1
-2.2 pts 67.0
66.5 +0.5 pts
Certain information included in this statement is forward-looking and involves risks and
uncertainties that could cause actual results to differ materially from those expressed or
implied by the forward looking statements.
Forward-looking statements include, without limitation, projections relating to results of
operations and financial conditions and the Companys plans and objectives for future
operations, including, without limitation, discussions of the Companys Future Size and
Shape programme, expected future revenues, financing plans and expected expenditures and
divestments. All forward-looking statements in this report are based upon information
known to the Company on the date of this report. The Company undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
It is not reasonably possible to itemise all of the many factors and specific events that
could cause the Companys forward looking statements to be incorrect or that could
otherwise have a material adverse effect on the future operations or results of an airline
operating in the global economy. Information on some factors which could result in
material difference to the results is available in the Companys SEC filings, including,
without limitation the Companys Report on Form 20-F for the year ended March 2003.
Investor Relations
Waterside (HCB3)
PO Box 365
Harmondsworth
UB7 OGB
Tel: +44 (0) 20 8738 6947
Fax: +44( 0) 20 8738 9602
* Comparative numbers from 1 July 2002 have been adjusted to remove the impact of dba
following its disposal on 30 June 2003