Virgin are very proud of their "Brand" I can't see them being happy to continue with BI planes being white with just red engine cowls. I also can't see BI being happy having to pay to have their planes painted every time they buy and old shed or lease another one. Average age of their fleet current 18.5 years with G-ILSH over 30 years old now.
https://www.planespotters.net/airline/Blue-Islands
BI are advertising more and more their charter routes how would Virgin feel about aircraft in their colours being flown on charter routes?
Looking at the court papers yesterday when BI failed to pay up to Barons Capital when they produced documents for the proposed sale of Blue Islands it appears documents were produced for Aurigny and Stobart air to look at as no one else interested - I've stated before and I will again, now that Guernsey have open skies why would anyone want to buy BI when they could just start the routes on their own just as Aurigny have on the Jersey and Southampton routes.
It was reported BI apparently still owe Aurigny money over the ground handling contract and with BI now having to sell seats at £11 one way to Southampton to compete they must be losing money hand over fist. The court papers also state that the sale of BI was to take a 12 month hiatus so no doubt the BI management team will soon be investigating a sale again.