I have not heard the rumour but ...
Having been fairly regularly on SOU-MAN with BRAL at £250+ return each time, I could see where the market would be for this - after all the 0830 from SOU-MAN (BAe ATP) is invariably full, as is the return in the evening.
Knowing what some companies are like (mine included), they would jump at the chance of putting people on a low cost airline - after all, its only 40mins or so and who really wants a C**p breakfast etc etc
Would be interested to hear some more ?
TZ