"one would think that KRY is in better shape then GRZ"

While that statement is often made I personally can't see the basis for it.

True GRZ have a concession, but the CVG has a concession as well. This statement assumes that GRZ's concession will be revoked, but the CVG concession will be maintained unchanged.

So on that basis there would still be concessions, but only for the CVG. All GRZ would do in that case would be to surrender their concession to the CVG in exchange for a contract with similar terms as that of KRY.

In that case they would be in exactly the same "shape". If the CVG loses it's concession to LC as well, of course then both companies are in a whole new ball game.