Hmmm, "Failure to report" is the proximate cause. For the rest of us arm chair lawyers I thought I'd like to share one thing with you.
Despite what you may think, it is extremely difficult to remove someone's livlihood through official action (absent corruption) because the Courts set a very high standard of proof and if the complainant has the money and the balls, he can make life very very difficult for the public servant involved, and if there has been a mistake, then your career in the public service is effectively over.
I guess however that a straight out "failure to report" might be cause enough, unless of course the owners of Transair can show that they have been comprehensively deceived by one or more of their employees such that they could not possibly have known.