“BA draws the majority of their UK passengers from a relatively small geographic area around LHR”
Binman – is this information in the public domain. Just becasue BA appear to have abandoned UK shorthaul routes, does not mean that BA’s UK longhaul passengers come from the London region. BA’s competitors can shuttle passengers into Heathrow from all over the UK.
The BKK run is very interesting form Heathrow, in that there are 4 x B747-400 leaving LHR within 30 minutes of each other, BA, Qantas, Eva and Thai. I know that 2 go on down to Australia. Capacity may be tight, but that does not meant that seats are scarce.
If Thai can offer a discounted First class fare at less than the price of BA club fare, from LHR, irrespective of the cost of labour, (ticket conditions vary I know), BA’s prices cant be down to supply and demand. Thai may have an old fleet but their F product is truly First class, except of course for the UK lounge.