Stage 1: Sell off the valuable bits. (e.g. LHR slots and profit making routes to LH.)
Stage 2: Shut down the awkward loss making bits that are a total pain in the a*se.
Stage 3: Transfer the bits that can make a profit if they are run on a much lower cost base to bmir.
Result: Bigger Star Alliance, profit making bmir working as part of Star Alliance, cash in his pocket,less stress in his life.
As fishbed says LH and SAS are the other shareholders. Between the three they can do just about what they like and there will inevitably be consolidation in Europe. A medium size airline like bmi cannot hope to survive on it's own. Mere conjecture but if he does this I'll sue him for copyright!
[ 30 October 2001: Message edited by: Bash ]