You don't need a model to understand that the company at its stated mid point of cash burn ($75m a month) and already drawing down on the Govt loan of $900m has about 12 months ($12 x $75m = $900m) of fuel in the tank and then it'll crash. I doubt they will let the fuel tank run too close to empty so a major capital raise is coming some time in the next 12 months, probably well before the 12 months is up.
I expect a tsunami of positive press releases about how domestic is recovering well and freight e.t.c. and whatever other positive spin the company can come up with to make things look as good as possible leading up to the capital raise, (probably before late February 2021 so investors won't realise how much money they're losing at present).
The important thing to focus on however is they cannot make money until they can undertake widespread international passenger services and there is the demand for them so the question is when will a safe and effective vaccine be widely available on a global basis ? Until that time they will burn a LOT of cash every month in my opinion.