Executive Summary
British Airways PLC (LON:BAY) is a UK-based airline, that transports passengers, mail and cargo to worldwide destinations in aircraft of 20 seats or more. Its main centres of operation are Heathrow and Gatwick, both of which are located in London. British Airways is one of the largest airline operators in Europe. Increasing competition from budget airlines, and industrial action from BA cabin crew have contributed to a significant fall in the company's profitability in recent years. In the year ending 31 March 2010, the company earned revenue of £7,994m and a loss before tax of £531m.
Company History
- The British Airways Group was formed on 1 September 1972 consisting of BOAC and BEA. These two 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.
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