BAA ANNOUNCES JANUARY TRAFFIC FIGURES                     

BAA's seven UK airports handled a total of 8.8 million passengers in January
2003, an increase of 10.7% over January 2002 helped by strong traffic over the
Christmas and new year holiday period.

Amongst the airports, Heathrow was 7.1% higher than January 2002. Gatwick has
still not fully recovered from September 11 2001 and its aftermath. Although it
recorded a 10.0% increase over January 2002, it was still 8% lower than January
2001. The largest gains were recorded at airports with the highest
concentration of low cost carriers. Stansted added 30.5%, Edinburgh grew by
16.1% and Glasgow was also up by 10.2%.

All major markets recorded increases compared to January 2002. Domestic and
European scheduled traffic saw gains of 14.9% and 13.3% respectively, whilst
European charter traffic added 5.4%. North Atlantic routes increased by 9.0%,
but have not recovered to levels recorded prior to September 11 2001. The two
year comparison shows the North Atlantic market to be still 2.0% down.

Total air transport movements were 4.4% higher than January 2002. Cargo tonnage
increased by 3.9%.

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BAA Traffic Summary : January 2003                                             
                                                                               
Terminal                       %    Fin year to        %   12 months          %
                                          date:                   to           
                                                                               
Passengers       Month   Change*      Apr-02 to Change**      Jan-03  Change***
(000s)                                   Jan-03                                
                                                                               
Heathrow         4,689.5     7.1       53,644.6      5.8    63,321.0        5.1
                                                                               
Gatwick          1,797.8    10.0       25,687.2     -3.0    29,682.5       -3.6
                                                                               
Stansted         1,149.1    30.5       14,202.5     18.6    16,312.3       18.4
                                                                               
London Area      7,636.4    10.7       93,534.3      4.9   109,315.8        4.3
Total                                                                          
                                                                               
Southampton         52.2     3.1          676.4     -6.7       792.2       -7.0
                                                                               
Glasgow            476.8    10.2        6,840.5      7.6     7,816.1        7.6
                                                                               
Edinburgh          499.0    16.1        5,949.7     13.9     6,981.9       14.9
                                                                               
Aberdeen           175.0    -2.8        2,201.8      1.0     2,573.7        0.6
                                                                               
Scottish Total   1,150.8    10.4       14,991.9      8.9    17,371.7        9.2
                                                                               
BAA Total        8,839.4    10.7      109,202.6      5.4   127,479.7        4.9
                                                                               
                                                                               
Air Transport                    %    Fin year to        %   12 months        %
                                            date:                   to         
                                                                               
Movements         Month    Change*      Apr-02 to Change**      Jan-03 Change**
                                           Jan-03                             *
                                                                               
Heathrow            37,726     0.7        387,883      1.2     460,556      0.8
                                                                               
Gatwick             17,554     9.7        202,677     -1.2     236,257     -2.4
                                                                               
Stansted            13,047    23.0        135,816      5.2     156,967      3.4
                                                                               
London Area Total   68,327     6.6        726,376      1.2     853,780      0.4
                                                                               
Southampton          2,162    -0.7         23,638     -1.7      27,970     -1.4
                                                                               
Glasgow              6,667    -0.6         75,573     -3.5      88,359     -4.2
                                                                               
Edinburgh            8,624     4.8         89,328      5.3     106,225      6.3
                                                                               
Aberdeen             6,108   -10.3         68,689     -6.3      81,658     -5.5
                                                                               
Scottish Total      21,399    -1.6        233,590     -1.2     276,242     -0.8
                                                                               
BAA Total           91,888     4.4        983,604      0.6   1,157,992      0.0
                                                                               
                                                                               
Cargo                            %    Fin year to        %   12 months        %
                                            date:                   to         
                                                                               
(Metric Tonnes)   Month    Change*      Apr-02 to Change**      Jan-03 Change**
                                           Jan-03                             *
                                                                               
Heathrow            92,449     4.4      1,040,937      7.5   1,238,902      5.4
                                                                               
Gatwick             16,651    -7.4        201,099     -9.7     241,306    -12.2
                                                                               
Stansted            14,641    12.0        158,804     15.1     187,825     12.1
                                                                               
London Area Total  123,741     3.5      1,400,840      5.4   1,668,033      3.1
                                                                               
Southampton             26     4.0            334     21.2         395     18.1
                                                                               
Glasgow                220    -2.7          5,011      1.5       5,468     -7.6
                                                                               
Edinburgh            1,876    46.3         19,539     48.1      21,855     35.9
                                                                               
Aberdeen               264   -17.5          3,073    -13.7       3,719    -23.2
                                                                               
Scottish Total       2,360    29.1         27,623     27.3      31,042     15.6
                                                                               
BAA Total          126,127     3.9      1,428,797      5.7   1,699,470      3.3
                                                                               
Above data excludes Air Taxi passengers and Air Taxi movements.                
                                                                               
* compared to the month of January 2002                                        
                                                                               
** compared to the ten months April 2001 to January 2002                       
                                                                               
*** compared to the twelve months to January 2002                              

Market Comparison: January 2003                                             
                                                                            
                           BAA Total               BAA Total                
                                                                            
Market                               Jan-02           Jan-03                
                                                                            
                                     (000s)           (000s)        % Change
                                                                            
Domestic                              1,578            1,813            14.9
                                                                            
Eire                                    419              431             2.6
                                                                            
European Scheduled                    2,828            3,204            13.3
                                                                            
European Charter*                       529              558             5.4
                                                                            
North Atlantic                        1,130            1,232             9.0
                                                                            
Other Long Haul                       1,504            1,602             6.5
                                                                            
Total                                 7,988            8,839            10.7

* includes North African Charter

Note: Origins and destinations are classified according to ultimate origin or
destination of aircraft in the case of multi sector flights

Note: Figures for the market sectors have been rounded. Totals as per Traffic
Summary



END