Future
Hmm,
2 leases up does not really say alot. They still have 3 A/c in their possession.
Perhaps the opportunity would be to focus on New Quay with 3 a/c which they own. Obviously examing the route structure would be important to see if the bulk of losses came from NQY or PLY.
Having said this you still have a large dedicated group of employees and redundancy would be potentially pretty expensive.
But putting a value on the airline is challenging. As one of the previous posters noted, the airlines assets are really just the A/c and of course whatever @goodwill@ value is there. If Blue Islands came in tomorrow - what would the value of the airline be?
Sincerely,
Shamrogue