BAA ANNOUNCES MARCH TRAFFIC FIGURES                      

BAA's seven UK airports handled a total of 9.7 million passengers in March, a
decrease of 3.1% compared with March 2002, due to the Easter holidays falling
much later this year and the impact of the war in the Middle East.

It is not possible to accurately assess the impact of the many varied events
affecting the March traffic figures - Middle Eastern hostilities, SARS and the
effect of the late Easter holidays - but our internal planning assumption was
that the timing of Easter would reduce traffic by between 2-3% in the month of
March.

Heathrow was the worst affected by the war and change of Easter dates, down
8.1%, followed by Gatwick, down 6.2% and Aberdeen dropped 1.3%. Other BAA
airports experienced traffic growth, with Stansted up 17.4%, Glasgow up 4.6%,
Edinburgh up 6.1% and Southampton grew by 1.7%.

For the month, North Atlantic traffic dropped 8.9% and other long haul routes
fell by 12.4%. European charter traffic was down 10.2% largely reflecting the
movement of the Easter break.

The number of air transport movements rose 2.4% in March compared to last year
and cargo added 5.1%, totalling 0.15 million metric tonnes.

Full financial year

In BAA's full financial year (1 April 2002 to 31 March 2003), traffic was up
4.7% against the previous year with growth at Heathrow, up 4.3%, Stansted up
18.9%, Edinburgh up 13.1%, Glasgow up 7.7% and Aberdeen up 0.9%.

Gatwick, down 2.8%, continued to be worst impacted by the knock on effect of
September 11, 2001 and Southampton fell by 5.5%. Domestic routes performed well
for the year, up 11.3%, followed by European scheduled routes, up 5.6%, and
Irish routes up 2.7%. North Atlantic and other long haul traffic gained a
little ground, up 0.9% and 0.6% respectively.

In BAA's financial year, air transport movements rose by 1% and cargo rose by
5.9%, with 1.7 million tonnes of cargo transported through the seven UK
airports.

BAA Traffic Summary : March 2003                                               
                                                                               
Terminal                                 %           Financial Year           %
                                                                               
Passengers (000s)     Month        Change*    12 months to Mar 2003    Change**
                                                                               
Heathrow                4,861.1       -8.1                 62,954.2         4.3
                                                                               
Gatwick                 2,135.5       -6.2                 29,641.8        -2.8
                                                                               
Stansted                1,332.0       17.4                 16,745.7        18.9
                                                                               
London Area Total       8,328.6       -4.3                109,341.7         4.2
                                                                               
Southampton                63.2        1.7                    794.4        -5.5
                                                                               
Glasgow                   560.3        4.6                  7,900.8         7.7
                                                                               
Edinburgh                 595.5        6.1                  7,072.4        13.1
                                                                               
Aberdeen                  195.2       -1.3                  2,574.5         0.9
                                                                               
Scottish Total          1,351.0        4.3                 17,547.7         8.7
                                                                               
BAA Total               9,742.7       -3.1                127,683.9         4.7
                                                                               
                                                                               
Air Transport                            %           Financial Year           %
                                                                               
Movements              Month       Change*    12 months to Mar 2003    Change**
                                                                               
Heathrow                   38,265     -0.0                  461,135         1.2
                                                                               
Gatwick                    18,392      0.5                  237,301        -0.6
                                                                               
Stansted                   13,672     21.9                  161,934         7.8
                                                                               
London Area Total          70,329      3.8                  860,370         1.8
                                                                               
Southampton                 2,184     -3.7                   27,831        -1.9
                                                                               
Glasgow                     6,878      3.0                   88,734        -2.6
                                                                               
Edinburgh                   8,723     -0.9                  106,210         4.4
                                                                               
Aberdeen                    6,319     -5.2                   80,980        -6.1
                                                                               
Scottish Total             21,920     -1.0                  275,924        -1.1
                                                                               
BAA Total                  94,433      2.4                1,164,125         1.0
                                                                               
                                                                               
Cargo                                    %           Financial Year           %
                                                                               
(Metric Tonnes)        Month       Change*    12 months to Mar 2003    Change**
                                                                               
Heathrow                  111,287      5.2                1,253,055         7.4
                                                                               
Gatwick                    20,959     -5.7                  240,080        -8.7
                                                                               
Stansted                   17,701     17.0                  192,154        15.1
                                                                               
London Area Total         149,947      4.8                1,685,289         5.6
                                                                               
Southampton                    25    -19.4                      380        12.9
                                                                               
Glasgow                       239      1.2                    5,427         0.6
                                                                               
Edinburgh                   1,821     50.7                   23,041        48.6
                                                                               
Aberdeen                      286    -14.9                    3,607       -14.3
                                                                               
Scottish Total              2,346     31.7                   32,075        27.7
                                                                               
BAA Total                 152,318      5.1                1,717,744         5.9
                                                                               
Above data excludes Air Taxi passengers and Air Taxi movements.                
                                                                               
* compared to the month of March 2002                                          
                                                                               
** compared to the twelve months to March 2002                                 

Market Comparison: March 2003                                               
                                                                            
                           BAA Total               BAA Total                
                                                                            
Market                               Mar-02           Mar-03                
                                                                            
                                     (000s)           (000s)        % Change
                                                                            
Domestic                              1,948            2,081             6.8
                                                                            
Eire                                    515              500            -2.8
                                                                            
European Scheduled                    3,741            3,716            -0.7
                                                                            
European Charter*                       797              716           -10.2
                                                                            
North Atlantic                        1,439            1,312            -8.9
                                                                            
Other Long Haul                       1,617            1,417           -12.4
                                                                            
Total                                10,058            9,743            -3.1

Market Comparison: Financial Year 2002-03                                   
                                                                            
                           BAA Total               BAA Total                
                                                                            
Market                      Apr 01 - Mar 02  Apr 02 - Mar 03        % Change
                                                                            
                                     (000s)           (000s)                
                                                                            
Domestic                             22,178           24,674            11.3
                                                                            
Eire                                  6,153            6,318             2.7
                                                                            
European Scheduled                   44,701           47,222             5.6
                                                                            
European Charter*                    13,336           13,647             2.3
                                                                            
North Atlantic                       17,655           17,819             0.9
                                                                            
Other Long Haul                      17,897           18,005             0.6
                                                                            
Total                               121,920          127,684             4.7

* 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