ExCalibur was technically and operationally an airline of the highest standards and the team at the top who were running it was certainly very dedicated and well qualified to do so, as indeed were the flight crew and ground staff. They also set up the shop when trading was, to say the least, tough.
The decision to go into the longer haul market was certainly a bold one and no doubt they looked at all the alternatives but I always wondered why they didn't go for the A340 which would have meant minimal crew training costs (since all crew were A320 rated) and also a much better reliability factor with new aircraft and manufacture support etc. Perhaps the costs/risks of taking this option were too high.
It was a great shame they did not survive.