EI-Bud
Reminds me of the Alliance between MyAir and Sky Europe and how well that did.
Aside from the obvious of having to give up their slots at LHR to another competitor on competition concerns I kind of wonder where is the value in it.
Aer Lingus doesn't have the cash, neither does British Midland so who would put up the cash to ensure it happens. LH unlikely to sell cheaply if they can asset strip it rather than allowing someone else to do it.