(Similarly if FlyBe fails the CI residents will suffer: AUR isn't that healthy, and ACI has already seen its service deteriorate.)
That said it's a tall order to subsidise and yet avoid boosting the profits of other airlines and the pockets of airline investors, and keeping the green agenda going. Above my pay grade, that one.
Aurigny may not be healthy but it is for ever plugged into a very secure life-support system called the States of Guernsey and therefore is safe. Public sector ownership does have its benefits :-)