Talking of the GB franchise renewal (or not) in 2008, the Loganair one too would also seem to be on dodgy ground, what's the current score with BMED's marriage? Can't really see how Sun Air and Comair etc. fit into BA's grand plan (?) either...
Looks to me as though they are heading for a structure not dissimilar to the big Mid-east players with a single core and a relatively limited local network, also the letters BOAC spring to mind don't really remember though if they operated much inside Europe.
What go's around....
PP