I really do hope it is a success, howver I just can't see how they hope to compete with any service which is also operated from Cardiff.
On an operation with such tight profit margins, any competitor at Cardiff would only have to drop a proportion of their fares to the "low cost airline" type, and it would be the end of the road for Air Wales and probably Swansea Airport.
I hope they prove me wrong, best of luck to all at Swansea.