As predicted..and not unexpected here. Sad news for the crews ( and staff) whom have been dangled on strings, and the real shame is this was perhaps avoidable if the "old regime" had acted as the "new regime" in terms of cost control, seeing the writing on the wall with realistic growth in capacity, no business model works with a 100% capacity growth and 20% income growth.
There is no automatic approval of this plan by the Irish Courts, again worth remembering that "Examinership" is designed to protect jobs not secure assets and with the vast majority of the jobs outside Norway going this is a real lead balloon. The "Concrete interest in investment" needs to be actually secured in cash terms before exit from the examinership process and if the existing creditors are not satisfied the courts can unleash the dogs.
The good news is that the brand may survive to live another day, no pilots want to see others without jobs wherever they may be.