THere may be more to this than meets the eye: [speculation/on] With BMI now gone, isn't EI one of the biggest slot holders at LHR? Financially they're also not doing great, LHR is likely one of EI's cash-cows so if BA goes on the attack, gives them additional headaches, maybe even diverts some of their transatlantic traffic, helps deepen their financial problems, sending them into FR's arms who not wanting to operate from LHR sell their slots on to the open market thereby helping BA increase their dominance at the airport even further and leaving them with a monopoly on the LHR-DUB market. This could work great for them and might be worth a long-ish wait [speculation/off]
EI is actually not doing badly (reported a reasonable profit last year). It's not quite as troubled as you make out.
FR (even if they were allowed to purchase EI) have previously stated they'd keep it a seperate operation - a different "brand" within a larger group, and keep operating as is (i.e flights to LHR/main airports, interlining, codesharing etc), so they wouldn't be jettisoning the LHR slots either.
With EI cosying up to EY, I suspect that's more likely to see a deepening relationship and the slots rented to their new partners..if they give up any at all.
isnt EI in the running for the ex BMI domestic slots ?
Was rumoured, but don't know if anything is official yet.