I love your theory. He lost his shirt on the shares but because he has booked the loss already you think of it as a positive that the cash will be coming in. Interesting view. You must be in
PR for FR.
Also WW is no friend of AL. He showed his true colours wanting to join in the MOL "remedies package" bandwagon. I can't see IAG wanting a merger, there is no point as WW will still be plotting how to strip AL of the slots and get it without the burden of working through the pension issues etc.
From a personal career perspective and assuming that we were "tuped" like the BMI folks it would be a great deal for me. BA staff travel is the best in the world. Access to big comfy seats. Short haul commands much quicker than AL or the option of sticking it out on the wide body fleet for a few years more and seeing the world. It would get me out of the Irish tax system which would fill me with no end of joy. But life doesn't tend to work out like that unfortunately.