VMO,
Richard has said it before, he prefers to start an operation from scratch rather than purchase/use another business, he learnt his lesson when he purchased a small airline in Europe (which is now Virgin Express).
Maisk,
Yes there will be red aircraft is the NZ skies by years end, but it won't be Virgin NZ. It will Virgin Blue aircraft and crew. Tech crew's from Virgin Blue have been doing sim checks out of NZ airports for the last 6 months.