So let me get this right - Denim Air are expensive, but didn't make any money?
This is even though they had a lucrative contract with Arik for the last 4 plus years?
Arik are the largest debtor in Nigerian aviation, yet have just leased a new A332?
It doesn't add up, there must be some heavy protection of Arik going on = the rest of the Nigerian Aviation Industry will go bust!
Sounds like LOS has got it right - the same thing nearly happened to Smartlynx / Latcharter when VK couldn't pay for the 2 x 763's.