Basil,
I'm sure K & M were "the best thing to happen to BA during the 24 years I worked for the company" if you worked for BA. History shows that they led a less than honest management team that used the government of the day's protection to manipulate the market and other airlines' passengers. Yes, they did turn BA round. it was their methods that were totally unacceptable and they should have been held accountable.
However, these past exploits have nothing to do with the incompetence shown by the current BA management over the last few years. It amazes me that so many passengers still travel with them. I will do almost anything to avoid BA and particulalrly BA at LHR. Every once in a while I am left with no choice but to fly with them and they never fail to live up to their well earned reputation of NOT being the World's favorite airline.