VS never really wanted bmi
They just didn't want BA to have it.
The only way VA could expand was to join forces with BMI. VA need a feeder around the UK and Europe. If this goes through then the opportunity has gone, forever.
If you add on the AA slots, then IAG has a huge, anti competitive, chunk of the market. VA would eventually either stop any expansion or even worse shrink to just 'cherry picking' routes and charter.
Either way, a bad day for BMI and the public.