The cost base of their business model is far too high and the sense of entitlement of some of their higher paid staff is wrong, (notwithstanding those employees that I know are very nice people).
The proposed amended business model simply won't work, its conceptually flawed.
I think a full reset of their business model and cost structure is needed and the airline should be nationalised. Perhaps Shane Jones could put his regional lolly scramble money to proper use....
I think you are right Balance but that's just going to delay the inevitable.