I believe the 700’s are leased not owned. I also believe a decision is yet to be announced as to where they will end up. The decision was meant to have been made in early April.
Hopefully widebodies are on the cards too. They have gotten rid of the majority of their debt, have regained market share and a have a pretty valuable frequent flyer program. They also managed to cut their cost base through administration. Bain picked up a bargain and will make an absolute motza out of it. However they could also sit back and take in the yearly profits which could be in the billions if they play their cards right.
Meanwhile the opposition now has more debt than virgin did when it went into administration.
Both airlines also have disgruntled staff. Changing the attitudes towards staff and their T&C’s could make a difference towards the airlines success.