I'd put the sentiment aside. ASW are losing money, the owners want out.
Its difficult to lend money at the moment, especially to buy & run a loss making airline, so a management buyout seems less likely? A "cash" buyer would seem more likely.
Richard Lake has a track record in picking up things on the cheap and turning them round. Air Kilroe first, and then snapping up the turboprops from Citiexpress for a song are good examples.
I suspect he is interested, but only if the price is right..