G-SPOT, while its unlikely they will take on any new fATPLs for their little venture, they will help to "mop up" some of the XL/Zoom crew. Thus not quite the level of doom and gloom some suggest following these folds.
nb, via wikipedia, fleet sizes were:
XL - 18 a/c
Zoom - 5 a/c
JR reports it will have 4 a/c by year end and then take one every 4 weeks.
iX