Ah, Gas Chamber, logical thoughts indeed. Island nations individually do not generally have the resources as you mention but, from our perspective out here in the Solomons, Our Airline seems to be making a bit of a fist of it despite enormous obstacles. Our Airline did some hard yards after losing their (Air Nauru) -400 and the restructured (lean and mean) operation is a model that other islands aspiring to an airline operation would be well advised to copy. As we see it, there is no need for the pursuit of another 737 at this juncture, the Our Airline aircraft is far from fully utilised running twice a week Brisbane, Nauru, Tarawa and back and the capacity is there to provide significant capacity to Honiara in addition to the present Our Airline schedule. The ongoing use of Australian carriers (SAW, Ozjet) at considerable cost rather than using the ability/resources of another island nation beggars disbelief, if not for the cost but for the lack of unity and common objective.
Locally the feeling amongst thinkers is that an alliance between Nauru and the Solomons would be of enormous benefit to both countries. However the sad reality is that the Solomonese will let stubborn pride prevail and a viable opportunity will go begging despite the logic and common sense that shows that it would be successful - and at far less cost (or, put another way, at greater profit) to the country than a Pacific Blue operation.
The turmoil that besets Solomon Airlines at present will see more harm than good eventuate in the short term, and all because certain individuals are more concerned with their personal objectives than those of the airline/nation. What will it take for the government to wake up that things could be done far better, and profitably as a consequence, if they bite the bullet and appoint people without vested interests to the positions that matter?