Not entirely Hempy.
destroying the airline to create another airline
Is indeed what the Swiss did when they created Swiss out of the ashes of Swiss Air.
To find out more about it, interested readers can go to
http://www.google.com.au/url?sa=t&rc...X2cky06QHTbzyQ
The Australian consequences of a Project Phoenix need to be better understood before any 'Knights in White Saturn' let the NLP open up Pandora's Box of legislative trinkets.