Firstly, my thoughts are with my TCX brothers and sisters tonight.
When Momarch when bust in 2017, we were told the reason they waited until 0402am was because the administrators could not take over an airline with planes in the air. I hope the LH craft get airborne so all the crew can get home, and if so I would expect a raft of cancellations in the morning followed by announcement shortly after the last craft lands. What another terrible night for our industry.......