Considering the share of slots that Air France and Lufthansa hold at their respective hubs are still considerably larger than a merged BA/bmi presence at LHR, I can't see how the MMC would take issue with such a merger. Also, considering Belfast, Brussels and Dublin all would still have competition from another airline at LHR - and many more from the London area generally, this would be a good way of moving more slots out of shorthaul markets, in line with the government's own wishes. Admittedly MAN and the Scottish routes would be BA monopolies, but with competition to all other London airports, more people connecting via the continent, and more competitive rail travel - the market here is diminishing anyway. bmi bring to the table a very competitive package; an expansive slot portfolio, route allocations to some very oil rich countries and staff on much lower Ts & Cs, BA would do well to snap them up, but it's all in the hands of SMB. Regarding the subsidiaries, they could function stand alone, or equally snapped up.