As far as I am concerned, the only way out of this mess (which effectively gives a massive pay cut to all of us - whether 40% I don't know, but at least a 25% cut) is for Willie Walsh to be removed from office. I hope, against hope, that there will be a vote of no-confidence called for at the Shareholders AGM - the first one in our history where a Question and Answer session has been refused - and that the shareholders do the sensible thing.
As has been said previously I don't think that would make much difference, any replacement would have the same objectives.
And the major shareholders in the City, the ones that are able to do anything, as far as I can see support WW.
Have a read of
British Airways Strike Risk Grows as Unions Attack Walsh Cuts - Bloomberg.com