Within IAG and BA together, thee are probably no more than 6 individuals who have been privy to this information, all of whom are senior managers and wouldn't be likely to blab over a liquid lunch. Keith Williams has been asked directly what discount we received because of Lufthansa's failure to dispose of the two subsidiaries and he bluntly replied that this information is highly confidential.

The figure "bandied about" has been plucked from the ether - a bit like the newsrags' headlines that "Dan Air" was bought for a penny, when the debts that Davies and Newman Holdings had amassed were staggering and BA accepted full liability to Dan Air's creditors and paid them in full.

So, we shall never really know the exact figure - unless Willie Walsh decides to publish an autobiography after his retirement!