CIPs (Commercially Important People) is an old euphemism for top-tier elites (or even a subset of those), ie your best customers who the FAs are no doubt trained to treat particularly well. They will normally be identified by the sales department.

VIPs are of course political leaders and others of such standing, who maybe don't fly on the carrier much but nevertheless need to treated with even more kid gloves than the CIPs. They will be identified by either the PR department or the airline CEOs office.

When royalty travel by BA I presume poor old Rod Eddington, current CEO, still has to come over from his office to see them off!