You just don't get it.
For somebody who supposedly advises operators you are surprisingly slow to get the picture.
Nobody, especially I, want to see them fail. The discussion is not about that.
Your premise that because they are flying they are successful is flawed. I am merely making the point that, as in recent history with Air Australia, operators can be flat out flying from point A to point B but still be doing it at a loss until the funds dry up.
You seem to be dazzled and distracted by BARS accreditation, shiny new aircraft and ASX listings but have little understanding of basic principles of business and profitability.
I hope for their sake they are not reliant on you for your business acumen. If they are then they really are at risk