So management has spent thousands of hours and millions of dollars on a pipedream that Blind Freddy could have told them was never going to get anywhere and to add insult to injury they announce they are still keen to pursue this strategy with someone else but only on a capital-light basis.
In other words they are looking for a premium Asian airline who is happy to share their profits and not expect any investment in return....tell 'em they're dreaming!!!
The only upside in all of this is that whilst management was wasting their time on this, they couldn't think up any more daft plans that would further $cr*w up the company.