I’ve just been sent a survey on behalf of BA which asks more or less the same question.
For me there are two reasons why I fly BA – the main reason is that I like the product – Heathrow is convenient, I like the separate business class cabin on European routes, the lounges are nice, the flight frequency is good and so on and so on.
There is also a softer brand identity thing – I like the friendly, professional English service, I feel as if safety is a priority and I feel as if I will be looked after as a customer.
But I wouldn’t fly with them at any price – buying any product you evaluate what you get for your money. I’ve just done a flight from SIN to LHR on SQ in business class and I have to say I would not pay extra to fly BA on this route – so now BA have got to be cheaper than their competitor and that is where the problems start.