Thier debt is high their trading losses are not that much, the early hiccups with the MAX US operation seem to be over with good solid load factors going forward, the start double daily from Dublin to Stewart in a few weeks time, there was a massive training program for this to be crewed and a lot of expense, crew visas, second passports and the time off paid to get them, then lots of Captains training other Captains, with the recruited and on full pay American pilots sat at home awaiting the IAA to allow them the dispensation to fly EASA aircraft on a FAA, still not fully resolved but getting their resulting wholesale purchase of pilots days off and the double day off payments that went with it.
Meanwhile long haul proper has been receiving a new Dreamliner every two weeks, so just think of the advance up front costs of crewing and training that lot for routes that only started this week Austin & daily Chicago and it’s easy to see why the are burning cash, but they are burning it through investment not through flying empty aircraft, the 1st half will likely show a significant loss and I would expect a small full year loss, thereafter the critical mass should start to overwhelm the costs, cargo is doing very well out of LGW and people are paying for the premium seats, because although round trip fairs can be bought for similar money elsewhere, what you can’t do for sensible money with BA is one way legs, they are often 2 or 3 times the cost of a return flight on the same route.
So yes there’s a risk and it would please many if it went under, especially the ‘special one’ who was sacked by Norwegian and still hasn’t got over it.