It looks like a lot of people are not giving this one much of an chance!
Any major image change may be a bit of a shock and look strange at first.
BMI's old livery was introduced in 1986, and has only been subjected to modifications since then. In that period of time, the company has undergone some major, fundamental changes to the way it operates. It is now a major player in both the Domestic and European market, it is about to lauch Trans-Atlantic service, it is part owned by Lufthansa and SAS and a member of a major alliance.
A company (in any industry) that has undergone that sort of change and grown will gerally want a new image to reflect that change to their customers. With this change, BMI are clearly wanting to change the way they are seen. To be thought of an airline that flies to Washington and Chicago, rather than one that just flies to Edinburgh and Amsterdam.
BMI have kept the deep blue roof and tail, but in a much more stylised form. But gone are the grey belly, engines and tailplane - the removal of the grey gives a brighter, fresher, cleaner look.
The lowercase bmi
titling in blue, compliments the fuselage colouring very well.
The red accents on the engine and tailplane just provide some colour and contrast to the rest of the scheme.
As it has been pointed out by several people, it is not yet clear whether the Union Flag will be fully painted on the tail - I would expect that it will.
BMI needed a change, this one appears to be a pretty good one. Clean lines and distinctive colours - and one that will definately stand out from the crowd of white-painted aircraft!
These pictures are snaps of an aircraft on a test flight, the livery may not be complete, and the photo quality isn't the best - Maybe wait for some official photos once the final scheme has been confirmed before condeming this scheme.
As I said in my original post - I like it