I was at a briefing with the then Flt Ops Director and he said the same - that the 'i' didn't stand for anything. But I believe most people who had not the benefit of such a briefing decided for themselves what it stood for and I imagine Lufty thought it would be appropriate to make it a bit more meaningful. That said, although it is often assumed that bmi was an acronym I don't believe this was the intention. I had thought that perhaps there was some internet marketing advantage in adopting either a three letter or lower case only rebranding. Seems not because none of the primary search results I try give me anything other than Body Mass Index calculators etc. I need to know to punch in 'flybmi' to get where I want to go.
Personally I preferred British Midland Airways myself.
ttfn