Quite often on this site we see criticism of journalists (often totally justified, I must admit!) but on this occasion surely we should say well done to the Sunday Times whose journalist has managed to prise the facts out of Mr Halstead, confirming the suspicions many of us had.
It's a fair question too, as to why so many previous thread were pulled (although I do recall seeing some comments which were potentially actionable as they could not be substantiated).
This quote (from another site) should have been enough to give anybody pause :
"What were the circumstances which lead to the creation of Varsity Express?
I had just been made redundant [in Autumn 2009], when I received a call from a group of property owners who were looking to invest in an airline. They asked me if I was willing to help them."
Now confirmed by Mr Halstead as a total lie, who on earth would have believed it in the first place?
Wouldn't you have loved to have read the business plan? 
As I recall, the Thames Valley Police HQ is just down the road from the airport...