You all seem to understand. The VC community always considers their EXIT strategy before they even think of investing. So that is the bit of their “business plan” that is already tightly scripted and organised in detail before anything else. What then happens is they look to constructing a “front end” that allows them to do their exit strategy. It’s all ass backwards compared to normal business planning.
We don’t know the exit strategy and neither does Deloittes. The VCs may already have buyers/investors lined up and will “flip” the airline in three to six months, making 500 million in the process and also making Deloittes look like idiots as well as sending bond holders suicidal. The request for government cash/ guarantees or special treatment is also common. The risk for government in doing that is the VCs walk away with half a billion when they execute their exit plan, leaving the taxpayer on the hook for billions.
Dont think for a moment that the VC’s won’t sell their grandmothers to do deals like this and will use every trick, dirty or not, to get what they want. I still have the scars, 20 years later, from having to deal with these creatures.