I fail to see how Bain, however malignant they might be, would be any worse for employees than the liquidation of Virgin. The Enterprise Agreements in place stand legally until renegotiated. The bulk of the Head Office personnel are non EA employees so that might be where some aggressive action is taken early on. Bain will fight hard on those EAs I am sure, but if it is basically just the 737 operation going forward then there isn’t a whole lot of fat to be trimmed. They would have to go head on into T & Cs to get anything significant which they may well do, but if they start with the ‘Jetstar’ approach that’s what they will wind up with.