Tartare - nailed it:
Simply put - each long haul aircraft in an airline is in effect a small company.
You want above bank rate RoCE on an investment of a coupla hundred million at margins between 3 and 5 per cent.
The sums of money are eye watering, and if you fvck up any of the input costs, you're toast.
Now, imagine starting not one, but
four franchise LCC Airlines in four separate Asian jurisdictions with cashed up brutal incumbents.
I'm pretty sure any reputable MBA course would warn about the insanity of such a course of action.