Befree, you are quite right. This model is evidently far more cash intensive than any of the airlines thought or planned.
SJ maintain they will be cash positive (operational level) in 2008 but they will require inordinate amounts of money to fund expansion, especially aircraft introductions, and to service their expensive product.
EOS stand the best chance of success, they are working on service differential ahead of cost differential. The market for these carriers is small and there is not enough enough room for too many of these carriers.
With open skies looming business class fares on legacy carriers will only go one way - down - and then the all business class carriers lose their only advantage, price differential.
Maxjet demise is not good news for the sector.