BAA TRAFFIC FIGURES FOR MAY 2003

BAA's seven UK airports handled a total of 10.9 million passengers in May, an
increase of 2% against the same month last year. Compared with previous global
crises, there has been no significant dip overall in traffic at BAA airports as
a result of the Middle East conflict and the Sars epidemic.

There was strong growth in European scheduled traffic and on domestic routes,
up 7.2% and 3.6% respectively, supported by low fares at Gatwick and Stansted.
European charter traffic also rose by 2.7%.

Traffic to and from the Middle East picked up quickly following the end of
military action in Iraq, however the SARS effect on Far East routes continued
into May, with a 35% drop in passengers on those routes. North Atlantic traffic
was also impacted by the global geopolitical climate, down 7% for the month.

Among individual airports Heathrow saw a fall in traffic of 4.2%, as it has
been disproportionately affected by global issues, including the SARS virus, as
Far East services are concentrated at Heathrow.

Gatwick grew by 4.3% this month and Stansted added 16.6%, both as a result of
strong European scheduled and domestic traffic. Southampton's expanded range of
scheduled services led to an increase of 41% this month, and Scottish airports
added 4% traffic for the month.

In total BAA's airports recorded a drop of 0.3% in the number of air transport
movements and a decrease of 1.5% in the amount of cargo tonnage handled.

BAA Traffic Summary : May 2003                                                 
                                                                               
Terminal                        %    Fin year to        %   12 months         %
                                           date:                   to          
                                                                               
Passengers       Month    Change*  Apr to May 03 Change**      May 03 Change***
(000s)                                                                         
                                                                               
Heathrow          4,916.8    -4.2        9,806.4     -3.9    62,552.2       3.8
                                                                               
Gatwick           2,618.0     4.3        4,857.6      5.9    29,914.3       0.7
                                                                               
Stansted          1,607.0    16.6        2,878.5     10.9    17,028.0      18.5
                                                                               
London Area       9,141.8     1.3       17,542.5      0.9   109,494.5       5.0
Total                                                                          
                                                                               
Southampton         103.8    41.0          193.3     41.4       851.1       2.7
                                                                               
Glasgow             772.2     5.1        1,367.1      6.8     7,988.3       7.6
                                                                               
Edinburgh           643.4     5.9        1,248.9      8.1     7,166.2      11.6
                                                                               
Aberdeen            217.7    -4.8          424.4     -4.0     2,556.7       0.1
                                                                               
Scottish Total    1,633.3     4.0        3,040.4      5.7    17,711.1       8.0
                                                                               
BAA Total        10,879.0     2.0       20,776.2      1.8   128,056.8       5.4
                                                                               
                                                                               
Air Transport                     %    Fin year to        %   12 months       %
                                             date:                   to        
                                                                               
Movements          Month    Change*  Apr to May 03 Change**      May 03 Change*
                                                                             **
                                                                               
Heathrow            37,650     -3.9         74,369     -4.0     458,027     0.6
                                                                               
Gatwick             20,593     -0.6         38,588     -0.4     237,160     0.8
                                                                               
Stansted            15,411     14.1         27,386      5.5     163,364     9.6
                                                                               
London Area Total   73,654      0.3        140,343     -1.3     858,551     2.2
                                                                               
Southampton          2,805     14.3          5,429     13.3      28,468     0.1
                                                                               
Glasgow              8,017      0.2         14,995     -0.3      88,684    -2.3
                                                                               
Edinburgh            8,951     -4.4         17,601     -3.3     105,600     2.1
                                                                               
Aberdeen             6,840     -6.4         13,404     -5.9      80,147    -6.5
                                                                               
Scottish Total      23,808     -3.5         46,000     -3.1     274,431    -1.9
                                                                               
BAA Total          100,267     -0.3        191,772     -1.4   1,161,450     1.2
                                                                               
                                                                               
Cargo                             %    Fin year to        %   12 months       %
                                             date:                   to        
                                                                               
(Metric Tonnes)    Month    Change*  Apr to May 03 Change**      May 03 Change*
                                                                             **
                                                                               
Heathrow           102,913     -1.2        201,508     -0.7   1,251,644     7.3
                                                                               
Gatwick             18,414     -7.5         36,117     -7.8     237,035    -6.6
                                                                               
Stansted            15,801      2.9         31,686      4.0     193,359    13.7
                                                                               
London Area Total  137,128     -1.6        269,311     -1.2   1,682,038     5.7
                                                                               
Southampton             30    -18.9             66     -1.5         379     4.5
                                                                               
Glasgow                586     -1.3            823    -12.9       5,305     0.4
                                                                               
Edinburgh            2,411      4.7          4,345     24.3      23,890    46.1
                                                                               
Aberdeen               300     -9.4            589    -10.2       3,540   -14.2
                                                                               
Scottish Total       3,297      2.2          5,757     12.9      32,735    27.0
                                                                               
BAA Total          140,455     -1.5        275,134     -0.9   1,715,152     6.1
                                                                               
Above data excludes Air Taxi passengers and Air Taxi movements.                
                                                                               
* compared to the month of May 2002                                            
                                                                               
** compared to the two months April to May 2002                                
                                                                               
*** compared to the twelve months to May 2002                                  

Market Comparison: May 2003                                                 
                                                                            
                           BAA Total               BAA Total                
                                                                            
Market                               May-02 May-03                          
                                                                            
                                     (000s)           (000s)        % Change
                                                                            
Domestic                              2,084            2,159             3.6
                                                                            
Eire                                    529              532             0.6
                                                                            
European Scheduled                    3,962            4,246             7.2
                                                                            
European Charter*                     1,285            1,320             2.7
                                                                            
North Atlantic                        1,517            1,410            -7.0
                                                                            
Other Long Haul                       1,290            1,213            -6.0
                                                                            
Total                                10,666           10,879             2.0

* 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