You can split an airline in two, but cannot split its licences in two and so one half would need to be licensed from scratch. It would be subject to a fresh financial fitness assessment, and that is the issue here (issue / challlenge / problem / showstopper as you might see it, depending on your standpoint). These people - by their own admission - need external funding and there is no sign of it arriving.
I just hope people now becoming dependent on this dream will not be left high and dry. You can’t make long-term job offers to people unless you have certainty of the means to honour them. They in turn have mortgages, dependants and livelihoods, and respect for that should be foremost.
I have no doubt there will be some more substance-free fluff on social media in the next day or two to assure us the dream is still alive. In that regard, this feels to me like a turboprop equivalent of Global.