Surely they can continue operating as they are with used aircraft, they can still get "new" A/C just not necessarily factory fresh.
i.e they have the classics while everyone else has the NG's, they're starting to get the NG's now as everyone else starts to get neo's and MAX's, which they can have while everyone else has the MAX 2.0 and the A320eneo (even newer engine option)
They can operate used aircraft acceptably reliably with a non strenuous yet still quite high utilisation over the summer, and still not haemorrhage money over the winter with half the fleet on the ground.
I really want to see the A330 happen, I'm glad it is (or they are definitely on track), I agree it will be risky but I think they can make it work, I have faith in them. Even if it fails, it will be tragic, but I don't think it would finish them off.