I doubt any of the competition would buy it. They'll just wait in the wings to take over the routes or start a price war and finish them off.
Some sort of merger/tie up with Eastern or Blue islands might be viable or an outsider company with money to burn. There is some residual value in the aoc and parts of the route network.
Longer term it is probably a viable outfit, but short term the parent company has got cold feet or run out of cash...?