You have conveniently forgotten that BA would be in profit if it wasn't for its fuel hedging.
This has been explained numerous times already, it wouldn't have made a profit because of Hedging.
Whether BA survives or not isn't dependant on the current T&C's of its employees. If poverty pay and conditions were the holy grail of running an airline, Aer Lingus would not be in the state it is. Is this the future for BA?
It is certainly a major factor when there are other airlines out there doing what BA does with a much lower cost base, and in some cases to a higher standard.
And with Aer Lingus, yes there were massive changes, but the fact is it is still here! I guess we will see what happens to BA in the next couple of years before we can draw a definative conclusion on that aspect.
I am not a pilot but perhaps the pilots 'rolling over' is because they have had access to the full facts and are making a decision that is in the best interest of both them and the company, the best scenerio I think. Yes there might be some loss of terms and conditions but looking at the long term picture it is probably better than no job or someone taking over and ripping all contracts up and starting again!