In order to win back the confidence of the masses, an innovative approach is going to have to be found. Is it the New Business Model in the long run?
Whatever solution they end up with I hope they find a niche much in the same way that Virgin Atlantic has. VA recognise that they will never be as big as BA and serve as many destinations. Instead they focus on delivering a quality product and doing what they do well. I think where BMI have gone wrong is that they have tried to do to many things and hence not delivered on them all. And now they are treading a slippery path of cost cutting etc which has lead to their problems and turning away custom. Unfortunately the solution may well entail more investment and therefore increased losses for a long term gain.