The question ought to be " can you imagine BA having their ETOPS removed" sorry that should be " can you imagine BA asking the CAA to remove their ETOPS approval" come on GSM we all know Globespan have had a rough time and are working hard to sort things out (see add in Flight) there main problem seem to stem from long haul ops, it looks to me like the previous FOD thought going long haul was like going to AGP, only a bit further??
They clearly have access to funds, so with some fresh blood and some time they may have turned a corner