An interesting discussion. The various analogies (including my own of M&S) all fall somewhat short because BA is in a very particular 'corner'.
One other factor we have not yet mentioned is the regulatory hand that can ease forward or hold back. But, that is all part of the difference that flying is your life in their metal. The BMW is being owned and driven by you. If something goes wrong with your M&S suit, you are already on the ground. YET people still want to pay less and less and expect more. That is human nature and is unmovable.
The combination of factors stacking against ALL the European legacy carriers are going to claim more victims than they already have. To recap briefly:
- Money. Not just the LCCs but in everything we purchase.
- Movement of commercial weight from USA to Middle and Far East.
- Regulation: Removal of privileged pricing and barriers to new entrants.
- Internet: information and range of choice never imagined.
- Historic contracts for labour, premises and access to runways that are also being affected by the above points.