For the customer "Virgin Europe" would be excellent; the product on the US domestic routes is superb; even more so compared to its competitors.
But as many will be picking up on - this is politics rather than economics. The LCC competition is immense (I dare say this wont be Virgins only SH route). Domestic air travel is also falling. Is this just a result of losing their rail franchise?
What we do know is that BA IMO have them by the short and curlies. An established product and network and possibility some desperation after their failed BMI bid.