A tricky one indeed. BWIA's current stae is not very promising and with the Category 2 downgrading it will not be able to expand into the US. Its ability to serve the UK is unaffected and it could open new routes to MAN.
As for the circumstances, that is the strange part. BWIA announced the route after jmc decided to drop TAB, a combined result of falling profitability and the retirements of the DC-10-30s bought from BA some years ago. There seems to be political goodwill on all sides but it must still be asked, how did they decide on that? If a charter company whose operating costs are generally lower can abandon the route, what about full-service BWIA? Furthermore, what plane would it use? With 2 TriStars down and out and the other 2 keeping the LHR service alive BWee should consider a newer plane for their services to MAN. It will be an expensive step there though.
Hop to it, fly for life!