Holding in Company

British Airways PLC
25 September 2001



LETTER TO BRITISH AIRWAYS PLC - DATED 24 SEPTEMBER 2001

S.198 Companies Act - Disclosure of Share Interests

We are acting on behalf of Franklin Resources, Inc. and its affiliates, which 
includes Franklin Mutual Advisers, LLC and Templeton Worldwide, Inc. and its 
affiliates.  Franklin Resources, Inc. and its affiliates perform investment 
management and advisory services for clients on a global basis.

We wish to advise you of interests in the share capital of your Company under 
management of Franklin Resources. Inc. and its affiliates on behalf of clients, 
as detailed in the schedule below.
 
                                SCHEDULE
                                
                            British Airways plc

                             Outstanding Shares       1,082,631,000


Registered Holder               No. of Shares          % of class     
                                                     
Chase Nominees Ltd               31,110,216             2.8736%

HSBC Bank                           444,100              0.0410%

CEDE & Company                    6,233,250              0.5758%

Royal Trust Corp of Canada        3,547,954              0.3277%

Bankers Trust Company             1,046,612              0.0967%

State Street Nominees Limited    10,646,672              0.9834%

Bank of New York Nominees           736,147              0.0680%

Citibank Nominees Ltd               110,210              0.0102%

Bank of New York, Europe             30,708              0.0028%

Deutsche Bank AG                    435,400              0.0402%

Merrill Lynch                     1,423,319              0.1315%

Northern Trust                    3,065,124              0.2831%

Clydesdale Bank Plc               5,810,794              0.5367%

TOTAL                            64,640,506              5.9707%
  
FROM FRANKLIN TEMPLETON INVESTMENTS