Whatever they promised was then... They can argue [they not me!] that if they are making a profit and NOT serving the regions s/h and not serving from the regions to l/h - why should they try and do it?
Look at just two of the other major corporations of long standing, Ford and Daimler Chrysler - they have grown and grown and are having problems. Look at the airlines that have grown by acquisition and do local, regional, medium and long - are they comfortable? I don't think so.
BA looked at the big tie-ups with AA, Sabena, KLM and others but none worked out. Not just because airlines remain in the politicians minds as 'ours' but all the international regs on routes are formed on the basis of countries. My guess is that they decided that getting bigger was problematical and they would head, quietly, in the opposite direction. They can sell off whole chunks and, when some a/c are reaching a typical replacement point - just withdraw from a route instead.
For the shareholders it makes sense and that is the responsibility of the board. I expect that they will pull this off and I give them credit for it because everyone else is still trying to grow - look at poor old Mike at BD, still desperate after all these years. BA are the only ones trying to shrink and I am waiting to see how long it takes AA and the others to follow. (No, I am not a shareholder or employee - past or present - of any airline).