Confirmed tax and liability exercise
If you can't be bothered to understand it and keep posting rubbish, then there's truly no point in trying to explain. It's nothing to do with tax or liability.
And Skip - BA did work on something similar - which is why the A318 was on the British Airways (BA) - also known as "BABA" - AOC for a while. For whatever reason, the BA bond issue did not work out and the structure was folded back into BA, whereas the bond issue did work out for Virgin with VAIL.