Sure, it is possible that a white night Middle East carrier decides to swoop in and save the company to get a foothold in the Australian market.
Why though?
We have 26 million people on a huge island, the big two carriers have the market sewn up nicely and make money in fits and starts. Why would you want to buy in to that?
From all I have read so far they are in the death throes. What is the legal position of a company continuing to trade when they cannot pay their bills, ie payouts for the staff made redundant by the closure of the jet network? If they cannot pay people then they are insolvent? Even with the multiple corporate entities that are involved. I understand the different business units and why that may help but I think the fat lady is warming up. All this talk from EY about possible buyers, sounds like Bonza all over again. Simply not worth it. The brand is tarnished.
Good luck to all the staff, thankfully the market is strong at present for all sorts of aviation roles.