Are you saying it's no longer a LCC? IAG seem to disagree and have made clear that their purchase of the airline is to have a stake in the LCC market. LCCs are increasingly more diverse, with many pursuing more lucrative business passengers. I would expect to see more variation in the business model going forward.

But the point being raised remains the same, would BAEC status afford benefits on an IAG owned LCC that the airline was otherwise hoping to raise revenue from. As mentioned above, I can see some, but not the full range of benefits being offered given the the much reduced margins that are inherent in the business model.