As with the other majors, it is Merge-or-Die. The problem for BA is that it always wants to be the boss of any merger. All of the discussed mergers have come to nought. The only way that they have grown is by acquisition (or forced merger by UK govt in the past).
If they retain this approach (based on the past this is inevitable) then they will eventually be acquired. How long this will take is impossible to say as there are still too many imponderables: fuel, staffing issues and the recession have yet to settle into a clear pattern.