Rushed approach
You imply in your response to LNIDA that the M family have made huge amounts of money by leasing aircraft to Monarch and thereby transferring profits from an operating airline in the UK to a leasing company in Switzerland, all perfectly legally, but surely the problem with that is you lose sight of what the business is about in much the same way that bmi became a slot sitter at LHR for Bishop's exit plan,rather than a focused airline.
Ditto the engineering at MAEL in exactly the same way that bmi used bmi engineering, in good times its a good way of moving money around, but in lean times incestuous relationships breed poor business decisions.
Given the time and money this can be turnaround, moving to a one size fleet is a good start and dumping long haul makes sense, they need to make the likes of BHX/LTN/MAN their home turf