The idea that a management buy-out would automatically allow management to make obscene profits in the future is not a given. Don't forget that a sale of a state asset is merely replacing one state asset (shares in a company) for another state asset (cash). It the airline is sold for its true value (based on future cash flows etc.) then obscene profits won't arise no matter who buys it. Its a totally different story if it is sold for less than its true value. Since it is up to the government, as shareholder, to decide on the price it wants it is within its control to ensure that such "obscene" profits do not arise. This should not be a socialist/capitalist ideology issue. If I sell a house worth €400,000 for €200,000 someone will make an obscene profit. It I sell it for €400,000 no obscene profit is made.
Tolka