Don’t forget SQ are largely responsible for a lot of the mess today so of course they should take full control, its partly their mess. Tiger was under SQ control for the first 5 years run out of its Singapore office.
Singapore injected the most cash and kept the bonds alive. EY and SQ had heavy involvement in the tinkering behind closed doors. Tiger becoming a Virgin problem was part of that process. You want cash..well your getting Tiger also.
EY and SQ also encouraged the capacity wars earlier this decade, and financed it.
The next issue is financing the large Boeing payment due in less than 12 months.