Originally Posted by
DanV2
Reverting back to the LCC option using the owned 737 fleet is probably the more ideal option, via filing Voluntary Administration by calling in the administrators and relieving the shareholders of their requirements.
While the 'shareholders' may not be happy for 'losing control' of VA through administrators being called in, it may be better for VA (or a post-administration successor, whatever they call the post-administration airline, in the long run).
The problem being all the owned aircraft would be encumbered and likely repressed by creditors.