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LORD KING RETIRES FROM BRITISH AIRWAYS, SIR COLIN MARSHALL NOW NEW CHAIRMAN

 NEW YORK, Feb. 5 /PRNewswire/ -- Lord King this morning told the board of British Airways (NYSE: BAB) that he wished to bring forward his planned retirement as chairman, from July to today.
 He said that he had suggested this change in order to remove uncertainty and speculation about the future leadership of British Airways, in which he had the utmost confidence. The board agreed to his request.
 The board announced that Sir Colin Marshall will succeed Lord King as chairman and that Robert Ayling will become group managing director. Derek Stevens will continue as finance director.
 The board has asked Sir Michael Angus to take on additional responsibilities in the new board structure as non-executive deputy chairman. It is also intended to increase the non-executive representation on the board.
 Lord King has been invited by the board to become the first president of British Airways.
 Today he told the board: "It is almost 12 years since I took over as chairman of British Airways and 10 years since Sir Colin Marshall joined me. Together we have transformed what was a loss-making nationalized industry into what it is today -- the most successful and one of the most profitable airlines in the world.
 "To have been chairman of British Airways during these last 12 memorable years I regard as the crowning achievement of my working life. No honor could give me greater satisfaction and pride in the years to come than to be president of this great company. And I shall continue to be at the disposal of British Airways, serving it in any way that is most helpful to its fortunes."
 Sir Colin Marshall said: "I am privileged to be following Lord King who has earned worldwide respect for his contributions to British Airways and world aviation. His retirement is the end of an era but his contribution will continue to be evident in the future success of this airline.
 "As chairman I am proud to now lead a British Airways team of 50,000 employees who are also recognized throughout our industry as among the best in the world. It is their commitment, coupled with strong leadership, which has brought British Airways to a new phase in its growth.
 "In Europe we have made investments in TAT and Deutsche BA. In Australia we have agreed to take a 25 percent stake in Qantas, and in the United States we have brought to a successful conclusion our negotiations to take up a minority position in USAir. We are well advanced towards our target of becoming a truly global airline."
 Sir Michael Angus said: "It is characteristic of John King that even as he retires from British Airways he has ensured that the strongest possible senior management team is in place to take British Airways forward.
 "These appointments have been welcomed by the whole board and I look forward to an even closer working relationship with Sir Colin and Robert Ayling."
 -0- 2/5/93
 /CONTACT: Sandy Gardiner, 718-397-4725, or John Lampl, 718-397-4729, both of British Airways/
 (BAB)


CO: British Airways ST: IN: AIR SU: PER

TS -- NY004 -- 3387 02/05/93 08:57 EST
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Publication:PR Newswire
Date:Feb 5, 1993
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