I don't think the ad in Flight today is Blue Fox - it's not a European airline. I also read somewhere that Blue Fox has appointed a merchant bank to handle its investment, and if this was the case, one would not expect a merchant bank to quote a Flight International box number for replies.
Key points of the ad:
Start-up finance required
New UK-based scheduled European airline
Four key routes identified, single class cabin
Expansion routes to Europe and N America
AOC application in place
$8m is required to launch the project
I strongly suspect this is Now - who else can it be?