Just a couple of thoughts.
Firstly, wouldn't it be better if BMED was allowed to lease the slot to another airline for however long they are not using it? I'm sure there are plenty of airlines out there who would like to use it. Without BMED losing the slot in the interim.
Surely that would be a logical solution, rather than forcing the airline into wasting loads of money operating a makeshift flying club!
Secondly, in reply to tristar500, I also thought it was a bit strange that BA have started flying to NQY from LHR, especially with a 734. But having said that Ryanair fly there once a day with an -800 (189 seats), and that used to be twice a day until NQY put up their pax charges. So there must be a market, 'cos believe me FR wouldn't operate the flight for long if it wasn't making them money.