A route is profitable if you spend less operating it than you earn in revenue from it. Whilst BA have 18 members of staff per pilot, and fly 625 passengers per employee as opposed to 4447 with Easy and 6000 with Ryan then few routes will be profitable.
The franchising debacle has been brought about by the frank admission of Commercial that BA cannot operate the route at a competitive price and so contractors have been brought in. A cleverer management would have reduced our MASSIVE costs to redress the balance and protect the integrity of the product.
The share price is a bit of an irrelevance, how low is low? The market is being dragged lower by American corporate earnings worries and concerns that no-one can believe the balance sheet anyway. That is a situation that nobody in the UK can control. In an environment that favours the bears and the short sellers, companies that have poor management can expect to be oversold.
That is not to say that BA could help itself immeasurably by facing up to its obesity and
SACKING THE BLOODY SUITS! AARRGGHHHHHHH! 
I’ll take on the opposition anyday. It’s my management I can’t beat!