Well, quite
BMI did not deny the losses when I put a *very* high figure to them. It is definitely in millions, I suspect in double figures. The majority of these costs are fixed operational: base and facilities at GLA and the cost of operating into LHR. (Makes you question why they are blaming BAA when clearly the economics of the route have been weak for some time).
As someone astutely pointed out here, closing bases would be a more likely next step than closing routes altogether but I have no evidence that's the plan.
Personally I guess BMI (and others) are in such trouble on domestic routes that they're willing to entertain speculation about route closures in order to gain political traction or embarrass BAA into a rethink or get help from the government. I wish them luck, but...!
Was slightly surprised to hear GLA mentioned as DUB has already been crippled by closure of its base and the introduction of a rubbish timetable, while MAN is surely the most unsustainable route in the longer term.