Open Skies (BA's offshoot for Paris/Amsterdam to New York etc with 757s) was always going to be a boondoggle, and whichever BA board members proposed it (including those at the highest level) ought to be relieved of their responsibilities, as it was always obviously money down the pan. The LCY-New York operation is something different, it is a city pair market that BA are the undoubted leaders in, they have all the right corporate and marketing contacts with those travelling, they are bringing forward a new product which many currently travelling will actually want to buy.
I have noticed that both at LCY and more generally at Canary Wharf and in The City, activity is heading upwards again. Nonsense business trips have gone, but mainstream trips in search of new opportunities are up again, and there's quite a lot of this in a realigned financial world.