Yes you are right Blue Hills. Pipe lagging is also a good idea and if you bin the box you can keep it with you for the return leg as it is light and easy to carry. Protecting the rear mech is also advisable.
This is a photo of my road bike packed up for a Winter in the loft. This is how I fly it as well. the only difference is that the pedals would be off and I would wrap it in a very thin elastic rope to give the handlers something to get hold of. The elastic rope is then also used for a washing line, for making shelters, fastening things to the bike etc, etc.
It is thin cloth but does the job. I make it bright so it is easy to see at airports. I dont know if the colour effects the handlers but the bikes turn up OK. I use the cover as a basemat for the tent and wash it when I get home.