EPIRB,
The latest I've heard is that both Rex Banks and Clive Abbott have left this airline. I also haven't heard of any further flights by Eco, or whatever they've renamed it as.
Several governments in the region are still in talks about allowing it to operate to their countries. I believe the main question with the governments is that they seem satified with Air Nauru, inspite all it's drawbacks.
I think the governments of Kiribati, Marshall Islands, Solomon Islands and possibly Ponape (FSM) and Kosrae are mulling over Air Nauru's consistancy and reliability. This problem may only be solved if these countries are share holders with the airline.
As you know, Nauru is in financial strife. Last I heard was that they were on the verge of losing their sole aircraft, having defaulted on payments to the EXIM bank of the US and a court case which was to see EXIM repossess the aircraft.
About US$10 million is owing for the full and final payment of the aircraft.
The Nauru government are considering abandoning the lease to keep deal to just a plain lease. With a credit rating like theirs, that may not be possilbe.
I think a good solution would be to offer a share of the airline to any of the above countries which would obviously include positions in directly managing the airline, pay the remaining bit of the loan with the share sales, have a mix of flight attendants from the participating countries, make redundant at least half of Air Nauru's overstaffed employees, and rename and remarket the airline to something more reflective of the region.
But as you know, simple solutions like this are too hard for the islands. You never know, Nauru might be desperate enough to consider such a radical solution.
Whatever they decide, time certainly isn't on their side.