Sigh...the question of who would take AWAC's flying smells a bit like trolling...
Air Willy is not going anywhere...the extension is going to happen and just because there is not 10 year contract in hand now means nothing.
There are very few regionals if any that could absorb all that flying since everyone is having staffing issues, especially those in recent years that have made over-enthusiastic promises just to win flying they already have.
The number of 50 seaters will continue to shrink to about 4-500 domestically and those who operate them the most efficiently are likely to keep doing that...and even Air Willy acknowledges that the platform is not a long term strategy. They also know that they don't need to panic.
AWAC has a fair amount of cash and could refleet more nimbly for the right contract....which guides their philosophy...secure flying that ensures fundamental strength rather than short-term gains.