Very sad news for an airline whose family tree goes all the way back to Taffy Powell's amazing Silver City Airways. My sincere commiserations to all concerned, although, as an eternal optimist, I would guess that the fat lady hasn't sung yet.
I gather that the noble Eurocontrol's charges and NJI's (on BWA's AOC) demise may have assisted a house-of-cards reaction. I wish you all the very best of luck.