I know a few people in said airline. I don't know what their plans are but was under the impression that during their last bit of
PR awhile back they were supposed to launch in June this year.
Has not happened, there are some smart people in that airline and they may well be thinking that it will be better to launch when the market is better or after a lot of the weak airlines have gone.
If they did launch now I doubt they would have the resources to survive for long. There is still a lot of competion as well as better known brands.
My guess is and it is a guess that they will hold off until things settle down a bit and some of the weak competion goes bust.
None of what I have said is based on any facts or any conversations with people from within the airline, just my own opinion.