ATR was always the WRONG aircraft for Australia, especially when you consider what the opposition are using. E190, also WRONG aircraft but for different reason, it wont yield the profit VS a turboprop. I would say the penny has dropped and they need to sort this out, the big question is will that set up a profit making outfit or will it continue to bleed.
My guess is the blood will continue to flow. Deep structural change needed at VAA.
Goat
Its not REX who should be afraid of VA, quite the opposite in fact. All REX needs is an investor and a few 73's and they have a ready made complete airline.
SN