Then again, if the EC draw things out, and IAG walk away, there would be nothing stopping BMI Group being put into Administration and all the slots going into the pool to be fought over.
It would be like the Astreaus close down on a bigger scale, where the funder simply pulled the plug and the next day Astraeus was no more.
That isn't a likely scenario though. IAG regard the slot portfolio as far too valuable, so unless they are forced to give up a silly amount of slots (>40%), they will probably hang on in there.
The only thing is that one of the comments on the FT article says that BMI is losing £20million a month. Who is covering that bill?
Lufthansa annual report released today
http://investor-relations.lufthansa....e_igjfbwpf.pdf