I don't believe the line that long haul will be a new company run by M'ol.
He won't be leaving FR any time soon, and why would he want to risk starting again when he already has all he could ever want.
I know this was put about by him but I think this line is just a smoke screen.
Apart from this, the credit crunch would make things more dificult to start from scratch these days. 737's i think, backed by FR's cash!