GVIC is not as smart as they think they are. Anyone who thinks Air North is worth $70m is dreaming.
It’s owned turboprops (Metros and EMB120s) are 30 years old and can’t be crewed in the current climate with Air North pay and conditions so remain mostly parked against the fence.
The rest of Air North comprises 5x leased EMB 170s with owned engines. Bristow paid $30m+ at peak of the market in Jan 2015. Air North is the only airline in Oz operating Embraer 170s. Air North has some very thin routes unlikely to be of interest to any competitors.