Christoph has said a lot of interesting things recently. He seems worried that once FR are kicked into touch that the government will sell off their shares and the company will be at the mercy of the hedge funds. This could conceivably allow an asset stripper to come in and tear it apart. To be fair no different really to what FR would have done.
So the strategy appears to be to get rid off cash and make the company a much less attractive buy out proposition.
I wonder whether Aer Arann will come into the fold. Our ex chief pilot is on secondment over there so watch this space.