No surprise really. But i think 'being proud' of running the business into the ground is not something i would agree with, or can easily stomach.
Palmair had numerous opportunities to change & adapt to the sometimes OBVIOUS signs in front of them - but they didn't.
Rather, they close down altogether (but in a sensible and very co-ordinated fashion), after all, it's easier than accepting change and adapting to the market needs.
Very short-sighted vision. Didn't listen to the market. Kept satisfying a handful (and dwindling number) of very similar minded customers, no disrespect intended to those customers.