Aero Mad, you have a propensity to treat anything SI with disdain and you obviously bleed yellow. This is easily proved by looking at your post history.
You are correct that this is a rumour network, and to be honest, I usually stay away from it for the following reason. It's a professional pilots rumour network, especially the threads to do with specific airlines. You are not a professional pilot and have absolutely no experience regarding what is involved in running a successful airline. You should be on the spotters forum and leave it to the professionals. I am a pilot (and no, I don't work for either airline) and I'm involved in operational management. I happen to live in Jersey and commute to work. I've used both airlines in the past, and prefer SI. The fact that GR have literally no presence left in Jersey also helps. Blue Islands have come a long way in a short space of time and should be congratulated for that and supported as a local business in the CI's.
As I stated in my earlier post, several CI airlines have attempted direct continental services over the years. They don't work as the market isn't big enough to sustain regular services. SI have attempted them, and have now done the next best thing, agreeing a codeshare with City Jet, and there is more to follow apparently. As stated, this affects me directly as I use them to commute. Annoyed? I am a bit. Understanding? Yes I am.
If you are offended by this post, or my previous one, that wasn't my intention. However, you have a tendency to literally 'chuck a grenade' into a forum just to stir trouble. Certainly not expert status.