They are more of a virtual airline and I can't honestly see them ever starting operations, and do they really have 10 CS100s on order, if so I think we would have heard more about it plus they announced that so called order way before the aircraft initially took to the skies and other airlines have since ordered them and are in service with those airlines.
The business plan seemed ok at the time of its inception and a lot has changed since then but looking forward I can't see the airline ever starting operations.