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British Airways Annual Report 2011

In: Business and Management

Submitted By Austin2013
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British Airways Plc
Annual Report and Accounts

Year ended 31 December 2011

Company registration number: 1777777

Contents
Officers and professional advisers 1

Directors’ report and business review Business review Management review Financial review Internal controls and risk management Directors’ report

2 4 6 9

Directors’ responsibilities statement in relation to the financial statements

12

Independent auditors’ report

13

Group financial statements Group consolidated income statement Statement of other comprehensive Income Balance sheets Cash flow statements Statement of changes in equity Notes to the accounts Operating and financial statistics Fleet table Principal investments Glossary Subsidiary undertakings

14 15 16 17 18 19 75 77 78 79 80

British Airways Plc Officers and professional advisers
Directors Sir Martin Broughton (Chairman) Alison Reed (Deputy Chairman) Keith Williams (Chief Executive Officer) Nick Swift (Chief Financial Officer) Andrew Crawley Frank van der Post Rafael Sánchez-Lozano Turmo Enrique Dupuy de Lôme Ken Smart Gavin Patterson

Secretary Alan Buchanan

Registered office Waterside PO Box 365 Harmondsworth UB7 0GB

Parent company International Consolidated Airlines Group S.A. Calle Velazquez 130 Madrid, 28006 Spain

Independent auditors Ernst & Young LLP 1 More London Place London SE1 2AF

1

British Airways Plc Directors’ report and business review
The Directors present their annual report and the audited financial statements for the year ended 31 December 2011. The comparative results, as presented in the Group financial statements, are the published financial statements for the nine months ended 31 December 2010.

Business review
British Airways (‘BA’ or ‘the Group’) is the UK’s largest international scheduled airline and one of the world’s leading global premium airlines. The Group’s...

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