1033,
BMI are losing in xs of £250m pa. Bmi have no assets apart from the slots and one A320; the rest are leased. The pension scheme is 80% invested in equities and is a total basket case (in fact worse than BA's NAPs scheme). They were v.close to being insolvent when Bishop exercised his Put option to sell it to Lufthy in 2008(?). That's why he had to accept less than he was due under the original deal he struck with Lufthy/Scandinavian (the company had to be solvent to exercise the option). They are bust!