Re Joint Venture

British Airways PLC
25 November 2002



ACCOLADIA JOINT VENTURE DISSOLVED

Thomas Cook UK Limited and British Airways Plc announced today the dissolution 
of their 50/50 joint venture company, accoladia.

Thomas Cook UK has acquired the 50 per cent stake currently held by British
Airways for £6 million in cash and the accoladia business has become a wholly
owned subsidiary of Thomas Cook UK. The British Airways Holidays brand and
business will revert to British Airways ownership and control.

Throughout 2003 there will be a period of transition with accoladia continuing
to manage the 2003 British Airways Holidays programmes. British Airways will
undertake all activity relating to British Airways Holidays for 2004.

                      This information is provided by RNS
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