Brand name?
I think you'll find that in the deal struck with SQ when SQ bought half of VS, the Virgin Group has committed that only Virgin Atlantic can use the Virgin brand on international routes. Therefore look to a new name, with no "Virgin" involved, even if it is in reality the same airline (think Qantas and Australia-Asia Airways)
As for money-making routes, I think you'll find there are many monopolistic routes ex Australia to the Pacific with high fares. No reason why Virgin can't make a killing, particularly if they're popular holiday destinations (just like OOL routes in oz)