777F's will be owned by a separate aircraft leasing company owned by OHCP (OH Aircraft Acquisition LLC). They will then be leased to Southern Air. Good shell game and if another company is willing to pony up $$ for the aircraft I'd bet they'd lease them out in a heartbeat.
Personally (I'm a SAI vet) I don't see SAI ever maintaining an aircraft to ETOPS standards...
Sponge