When the waiver expires you have LHR with a fraction of the service it's enjoyed for the last decade. VA on the ropes, BA will fill a lot of the void but the airlines of the world will all be pressed into trying to fill LHR flights.

After this pandemic eventually culls the herd to a certain extent, at this point, it seems that the mode of business seems to be just to survive to the point that when things do get better (via actual demand) you can thrive in a world of cheap oil, cheap aircraft, plentiful labor, and room to quickly expand.