There are some options on the LH front;
Utilising the older aircraft in all cattle class config and charging as little as possible to get bums on seats, then maybe a €1 or €2 per 1KG of hold baggage payable at check-in, pay per view IFE and/or pay for Burger Bar type food on board (maybe you could flog the franchise rights!!)
Alternatively, or possibly in tandem, on T/A, pushing a reasonably well connected western European base with US border and customs pre-clearance and attempting to attract traffic that way.
Perhaps retaining the "prestige routes" (if any of the T/A's fall into that category) under the full EI banner, with a full service offering (or as close to as you can get in these financially troubled times) on modern airframes and a new, separately branded, seperate entity (preferably free of the legacy arrangements) to operate a what you see is what you get service, serving cost effective, close enough to your destination, well connected US fields with the older AC. FR, for the most part, would be a ready made feeder service for such an op out of SNN or DUB.
Either way, doing something in an attempt to survive is far better than sitting there dumb, fat and happy waiting for the inevitable.
JAS