The list of airlines that are gone or not started is infinitely longer so are those flawed business models too?
Difficult one. There have been a lot of Low Cost start ups that have failed but at the same time a few that have been extremely succesful. Same for Regionals. There have been a few all biz class start ups and only a very few remotely succesfull.. There have been no succesful new VLJ operators that have come even close to their stated goals.....
I think that a flawed business model is when nobody is able to make it work and end up adapting the same model as everybody else has been using until then.
The main problem with our industry is that you will NEVER be able to compete as operator with fully owned/leased aircraft with aircraft that are paid for by sugar daddies..