starting again with new planes is one new plan.
It shows that operating with the old 767s is not viable in the long term.
How much do 5 off boeing 787s cost?
Given a billion you can make a profitable airline as long as you do not expect any of the billion back.
the Billionair may do quite well. The inital investors build the brand and do the market testing. Operate the airline at a massive loss for two years while it builds up trade. Just before it goes under the new guy turns up and puts in a few hundred million at 20p/share. by then the £70m put in by the inital investors is worth £10m.