The slot pairs will bring in some useful money for assists that we unlikely to have been used in the future, the real prize to be had here is VS & star, I would not rule out a partial sale, how the numbers might add up I have now idea, but I suspect some equity swap involving SQ/VS/LH might come into play, but let's be clear here the is nothing wrong at all with the bmi product or it's employee's in many ways it's far superior to the BA product, the problem is the bmi brand is confused by the various product offering of regional, baby and mainline it's self and is probably beyond redemption.
Virgin brand is much stronger, but how it would play in the iffy Arab countries that bmi fly to is another question!!!
As for baby who knows? But I doubt it will be shut down, more likely a trade sale,Monarch SMB?