Expressdriver,
Thought you gave a good and plausible if a bit long synopsis on this matter.
However with ever rising fuel prices and a fleet of gas guzzlers, for the new airline to be successful, they MUST be able to replace the current fleet reasonably quickly with more modern and fuel efficient planes.
Even Jet 2 with a fleet of older 737s are gradually doing this, leaving Baby the only UK airline left to start this process.
I am keeping my fingers crossed that a new owner, and crucially, one capable of having deep enough pockets required to turn the losses signs up in the next 2 weeks.
Nigel