The stand out points for me raised in the HfP article, state this:
Even more unexpectedly, the new owner is IAG Loyalty.
Of course, IAG Loyalty is 86% owned by British Airways (and 14% by Iberia) so the impact on how money flows through the IAG corporate structure – which is of great interest to the providers of IAG loans – is not huge
The new owner is IAG Loyalty, yet IAG loyalty is majority owned by BA.
Sounds like rearranging the financial deck chairs! Or perhaps Adam Daniel’s is the key to this and needs to continue his work/oversight for BAH amongst his avios responsibilities. But interestingly nonetheless.