Rex in voluntary administration, ending all 737 services

How much of it is even slightly attractive? Surely you need a decent business case for any tender to work. I’d expect a route or two would be cherry picked, and the rest left to languish.
It’s still a tender, but for the lowest subsidy required to maintain the regional routes nobody wants. Many suburban rail networks, even some regional aren’t money making, it’s just a case of the lowest cost to run plus a fixed profit margin on top.
 
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How much of it is even slightly attractive? Surely you need a decent business case for any tender to work. I’d expect a route or two would be cherry picked, and the rest left to languish.

That's not how it works.

Think about bus services. A region is given to an operator, most routes and services would be loss making, bar maybe one or two which actually breaks even. The respective government would pay for the services (or timetable) to ensure the operator could still make a profit overall.
 

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