Super stall, BMI was not bankrupt and that is why on so many levels this is a fascinating case. The pension regulator has sent the scheme to the PPF for assessment, this as far as I can tell is a first for a scheme coming from a company that has not had an insolvency event. Particularly gauling is that it appears the trustees their advisors and LH had reached a different outcome. I can clearly understand why long serving BMI pilots (and others) will be spitting tacks over this. BALPA are already managing expectations (downwards IMHO).
If BMI were bankrupt their would be no slots for BA. They would have been returned to the slot allocators.
Something you will get no argument from me is that the BACC have done an outstanding job. Look at the BA(IAG) share price over the last 5 years. A big lose for the owners and quite a decent win for the pilots.....well done the BACC!