finding_nema
I agree with everything youve said, my point was that SRB has made it public knowledge on a few occasions that he wants BMI and i can see why he thinks it makes good sense (no overlap, 12% of heathrow slots to add to the 3-5% he owns, a Euro based airline and the UK trunk routes) but agree with a lot of what youve said as what potentially could happen if he got it.
I do feel though that rather than BMI acquire another airline he (SMB et al) might put together a fund to buy the 20% from SAS if LH dont beat them to it, further securing his ownership but possibly delaying future buyouts, depending on his funding which i dont wish to speculate on. This could inturn lead to LH offloading its stake if it feels it cant increase it. In an ideal world am sure SMB wants the whole airline back and to start buying up others to increase his portfolio once more but i guess thats all part of what the future holds.