The guy who tried to setup airlines in the past, himself known as Baby Branson, had another airline fail once it got up and running, after being operational in total for one week, plus pilots out of pocket by £50,000 for training that never took place.
I don't think people will want to associate themselves with him in this industry any longer, full of lies that eventually backfire on him.
Read all the info here:
Varsity Express: Baby Branson’s bogus business - Times Online