BA will survive as they have a dominant market position within the UK.
I'm sure they will survive but, not prosper. Those that have a
dominant market position
are subject to perpetual erosion continually losing market share. The cost of winning back that share gradually increases resulting in diminishing returns - even whilst they maintain market dominance for BA, Dominant=complacent.
The economy is one factor and I would agree with VS that a profit in the forthcoming year will be nigh on impossible - which is exactly what I forecast about BA in the year ahead. The VS results help illustrate that BA is suffering from a series of very poor management decisions - of which the organisation and timing of the opening of T5 is only one. Poor Willie Walsh will have run out of apologies before the city wake up and smell the over brewed galley coffee.
There is no use tinkering around the edges of BA. This is the time to completely restructure the business. And no, I don't mean paint the flipping tail fins again!!