LPtP,
Don't be too disheartened about failing this time around. I was in your position last year, then rejected by easyJet but bounced back for a pass 2nd time around at Waterside. It's surprising how much of an advantage you have when you know the process at final stage.
I do share your concerns about the financial performance of BRitish Airways. Take easyJet at Gatwick, very tough competitor. Brand new planes (it's an indication of BAs financials that we can't commit to new frames at Gatwick), no pension deficit, flexible fares, fast track security, no alliance /lounge overheads, global distribution systems, free early home transfers. I was also concerned about the two airmanship incidents over the last year (hence my id) My take on it is that once your in, you can be part of and contribute to the success
I think the distinction behind legacy and "low cost" carriers will continue to become blurred. Both from a passenger and employee point of view. I don't expect at the end of my career to have the same terms as today, in all likelihood we will both meet in the middle.
Also, I love pprune but it's a distraction during the final stage. Focus on your own performance, not others..