Flight Transfer

Why is it not possible to transfer already booked flights onto a new aircraft of the same type? I accidentally cancelled a lease which happens to expire tomorrow so I have 3 days worth of flights to now compensate passengers having now received a new aircraft to find out I can't even transfer booked flights. I'm sure all my profits this week will vanish.

I am a small airline with a small income but thankfully I have an AAA rating so should survive, but this isn't very realistic or fair on those who are struggling.

Anyway, now I'm in this situation am I best to cancel the flights that are still booked 3 days ahead to prevent further bookings (and therefore more compensation)?

When the lease expires, the remaining booked flights are simply deleted. No compensation is paid to the passengers who are booked on those flights. If you manually cancel them, then compensation will be paid out.