Yes, but I'm slightly surprised EY didn't throw money at them with stricter conditions and that we would've seen AB doing a proper turnaround in their business....
Why would that be? The EU, like the US, is quite clear when it comes to the point of 'controlling interest'. A non-EU entity may buy shares in an EU airline, but only up the point they are not effectively controlling the airline.
Besides, AB is a complete basketcase and EY are hardly the world-standard, as far as demonstrated ability to perform turnarounds goes. They've got lots of money, but not necessarily the talent to manage it wisely.
One hopes the soon to be ex-employees of AB may find gainful employment elsewhere, in the industry or outside of it. Don't be surprised to see parts of its management washing up on hot and sandy shores, as thousands of failed managers have done before them.