EAAC as such is in CVA (Corporate Voluntary Administration). The debtors accepted a settlement of 6p in the pound. The staff have been offered a smidgeon of what they are legally entitled to.
The monies earned from current flying are going into a company called European Skybus, and I believe that company is also paying the staff each month by cheque.
Some creditors who European Skybus need to keep on side have received a full settlement, not just 6p in the pound.
The 747 aircraft appear to have work for the winter and I understand that they hope to pick up some Hajj work this winter as well.
If you have a job with a stable airline then I would think long and hard before moving to BOH