Jetstream
I hear your noise too - believe me I do (until very recently I knocked out ads for a prominent lo-co, including their first ever TV ads) - but the fact is that style and image are inextricably linked to any premium products. It's not as simple as marketing a budget brand.
The lo-co's innovate with their business models and they know they're getting it right, because they've all settled on a very similar formulas, but part of winning the battle in the premium market is looking good, as well as feeling good and making the costs sheets look good.
There are some really effective ways of innovating which tick all your boxes as a fledgling company, but sadly Silverjet have gone down the wrong road with their current line of advertising.
Basing their advertising push on their competitor's previous adverts is drawing as much attention to BA as it is Silverjet.
PS - I wish them luck too.