This got second billing in the printed FT UK editions today, lower front page.

I think there is a point here. BA has 40% of LCY's passengers. The current owners are trying to sell LCY for £2bn, which is over a 40 times multiple of earnings (EBITDA basis). Now someone forking out £2bn for LCY will have many other places to get a 20 or even 15 times multiple, so it doesn't make sense for anyone to buy LCY at that price unless they can double earnings - ypu may as well toddle down the post office and invest your cash there. And doubling passenger numbers from LCY seems unlikely in the extreme.

So what WW is doing is effectively adding a FUD factor to potential buyers.