AJ, there is a massive amount of ignorance regarding the standards in 3rd world countries. You will find, if ever you venture off shore, that there are some very well established and resourced maintenance organisations staffed with knowlegable, dedicated engineers.
On the other hand, there some really crap maintenance providers in Australia.
There is no doubt that there will be some difficulties in cultural attitudes between SAW and Lionair, but who is to say that they cannot be overcome? I cannot see why this company should neccessarily be shonky, as some have suggested.
I wonder if the whole venture revolves more around access to European ports (which Lionair has lost and would regain by using an Australian AOC) than access to the Australian market.