1) BA+AA: there is neither logic nor equality in denying anti-Trust Immunity to the Oneworld Alliance, while conceding it to LH/UA and AF/DL-NW. When BA+AA are ready, they will take this head-on and, ah, "win" (any such immunity is of course profoundly contrary to the public interest, in condoning cartels).
2) An overlooked aspect of Deregulation is that a suffering carrier has little to offer a buyer. Airlines no longer enjoy "ownership" of routes; they have debts and liabilities, but their sole asset is slots, which Sir M.Bishop recognised three decades ago. But some believe these should not be treated as balance sheet assets (who "owns" them?). MOL took Buzz gratis, but passed on GO, because no asset underlay any upfront price. So, rumour of LH interest in Silverjet. Why? A poster offered "live" AOC - well, how much is that worth to LH! No sane airline would buy AZ because most pearl routes they may currently fly are open to new EU entrants anyway. If the LCCs choose to enter long haul they will just do it, avoiding the baggage of an incumbent's processes, procedures and lessor/Union contracts (see: post on the VS/BMI merger thread where a BMI poster is proud that he flies 5 days, even 6 consecutively and omits to tell us how that rosters into 900hr.p.a. When will you all learn? You provide a commodity. No cause for privilege.)
3) In 1988 academic L.Gialloreto, Strategic Airline Management, foresaw 4 world carriers - Royal Ameripore, plus local minnows. Protectionism, misplaced "security", and drag has made the process glacial. Like a glacier it is unstoppable.