You can look at this however you please but don’t overlook the fact that 777 isn’t here for the long term prosperity of this carrier, they are here to make money from loans and leasing.
It wasn’t 777 that started this concept, it was the founder, and the now departing CCO, who went hunting globally for a someone to either invest or fund the concept, then flog it off. They have already let slip a few months ago re the valuation of this carrier, and intentions to sell the stake to someone else. 777 got what it wants, 20% loans and aircraft leasing. They are not here to fund any red ink, that’s up to the next person. That’s the issue with a carrier like this, ‘the next person’, and what they do with it. Many on here have been burnt on multiple strategy attempts from new owners.
More details in regards to the investor at play here will come out soon as they enter court proceedings with ex individuals from its Canadian offshoot, which is in serious debt and has acknowledged that it will need to restructure itself in order to continue operations in the medium term, the 20% loans and elevated leases are crippling the airline.