BA holds thousands of jobs and I'm sure the government wouldn't allow it to go into ruins.
I thought that about Rover but look what happened and that had more jobs across the whole of the West Midlands relying on it some friends badly affected by it.
While the parent may disappear the spin offs without the Liabilities would still employ people ala Alitalia.
Yup its worst case scenario and have lot of friends who work for BA I just don't believe it is unthinkable that in existing form they may cease to exist.