This Reuters article shows that the lease companies may feel a bit compromised and have little choice, although of interest is the statement:
https://www.reuters.com/article/us-n...-idUSKBN21Z2V5
"A source close to one of the lessors described the talks as a “long shot”, while conceding that collapsed aircraft demand could work in the deal’s favour. “If we had somewhere else to move our planes, it would be liquidation,” the person said. Could be gossip, but if true suggests they would happily pull the plug if market conditions allowed.
What NAS need a huge credit line, wad of cash and a bit of luck...it would be a shame to see another newish player wiped out by reckless management, having said that the NAS management did try and address the problems in 2019, maybe a little too late..At least the re-structuring, plan closing Spanish bases and concentrating on LH ops profitability models may reap the rewards given their fuel price advantages.