Putting this on Main PPRune listing as is maybe more 'MAJOR' than specific airline listing (with, sadly, limited specifics due to possible journo infiltration 
).
Despite recent IB group merger (and OneWorld, AA,QF networks) I have it on insider experience/knowledge/facts that the following WILL happen at BA in the next 12 months, irrespective of the current Icelandic Volcano scenario, strikes etc.,.....
1) BA/IB merger cannot go ahead due to BA pension-fund deficit. No possible EU assistance, as of today due to UK/EU deficit probs. A no-way Jose scenario, based on what we will see in coming weeks CON-LIB severe cuts.
2) Suspension of ALL BA/IB a/c orders in next few weeks....renegotiation.
3) WW plans to 're-invent' whole stucture of B.A. (and International Conglomeration) with substantial backing for new (T.B.A.) Company ops/streamlining. Main issue is to effectively 'default' on BA older pension burden....and to establish new reduced operating costs encompassing mainly cabin crew, subcontracting ground services/catering/maintenance as well to 'spider' setups providing those services.
It's not a case of 'IF', in info I have, talks are ready to be actioned in new CON-LIB (Govt. Sec. of State) pact and 'Emerald & Ruby' (for those that know how BA financing operates ;-) are in place to provide 'fluidity' in the venture to pastures new.
Can't say more, but this WILL HAPPEN and is 'fait-un-complet'.
No doubt all and sundry discussions will ensue! However, this has probably been a long-time coming. BA isn't going to wait until the bailiffs come in....what 'we' can see in the media just now is just a preamble of what will happen vis-a-vis Long-Haul ops for BA/IB group. Short Haul cross-funded is a separate issue and long-gone, realistically with EU feeder services (LoCo) already in place and ready to go on BA (Pact) 'dissolusion' (best word I can use to describe facts just now).