Whilst i would not rule out further slot sales by bmi (to the highest bidder) in 2012 i think a take over of bmi by the IAG group remains very unlikely, the suggestion that DLH would sell all bmi LHR slots to fund a closure of bmi including its pension deficit is a non starter. Any deal involving the sale of bmi slot portfolio will require the buyer to buy bmi as a going concern, winding bmi up is not on the table.
In simple terms the
PR damage done to the DLH brand by putting 3811 employees on the dole and seen to be pocketing 200 -500 million from the slot sale is far worse than the current financial pain DLH are enduring. With regional & baby away and a re focus on its route structure all ready underway it is likely that losses will start to fall in 2012.
DLH and its star alliance partners are not about to walk away from LHR.