SmartLynx management always were snakes. But the snakes did well post pandemic as many airlines reduced their fleet size and crew numbers. This is the ACMI business model in a nutshell, it exists to take advantage of the rest of the industry and its perils (delayed aircraft, engine problems etc). This day was always inevitable as airlines regained their previous capacity.
Good luck guys. If you're happy to pay your taxes correctly, there's still hundreds of Airbus and Boeing jobs out there.