John King, Baron King of Wartnaby

John Leonard King, Baron King of Wartnaby ( born August 29, 1917 † 12 July 2005) was a British businessman, British Airways led by an inefficient nationalized company to one of the most successful airlines in the present time. This success was a prime example of Margaret Thatcher's privatization program.

King began his successful business career with a ball and roller bearing company, which developed into a major and several transcontinental operation. In 1968 the company was sold for £ 10m. King was 1972 Chairman of Babcock International Group.

It was called King " Mrs. Thatcher's favorite businessman ". He was selected to prepare the inefficient and loss-making state-owned flag carrier for privatization. 1981 King joined with British Airways. Major changes in the airline were: to lay off 22,000 employees, Colin Marshall 1983 appointed CEO to modernize the fleet and to emphasize unprofitable routes. Within two years King had exchanged more than half of the Board of British Airways ( BA). BA was privatized in 1987, the IPO was 11 times oversubscribed. King was in 1983 appointed nobles for life.

King recognized the importance of Concorde for British Airways. In the first years in which flew the Concorde for British Airways, it was not profitable, what the press criticized: The Concorde was a white elephant, which is to say, they make more losses than a hobby reasonably be worth. But the prestige value of the aircraft detected at all. British Airways Concorde used to attract business customers. In return, British Airways guaranteed a certain number of improvements to the Concorde. This cooperation was a key factor to win business against transatlantic competition.

• Manager
• Life peer
• Member of the House of Lords
• Briton
• Born 1917
• Died in 2005
• Man
• Politicians ( 20th century)
• Politicians ( 21st century)