I could see the logic in retaining EDI-STN (only one competitor on the route) but I think GSM would still be better switching the GLA flights to LGW if they can get hold of the slots. Only BA to compete with on this route, after all.
I thought they already had the slots for LGW. Obviously not for when they planned, looks like they might do for early next year though. I agree, if they want to serve London, EDI-STN and GLA-LGW is the best way to go about it.