VFAH,
Some interesting commentary, and very valid - my only point from a position of knowledge here in Sion is the outbound market to UK is very compelling I can assure you especially for those residents of Lausanne / Montreux, Vaud etc - have you ever done the route from here to Geneva in normal daytime traffic or even peak travel times - year round... its uuuurrrggghhhhhhhh!! Yuk!
Hotac is changing rapidly here in the Valais to much more of an AirBnB type scenario, so the whole TO saturday to saturday is not really valid anymore!
I raised the GDS / TO distributrion question to them this week as they were here, sounds like GDS will be fully installed by end of July... I wont repeat what he said to me re the AOC but they are not just planning a winter schedule, and re your ATOL question they are Irish so ATOL is nothing to do with them..
I think most people her ethough are of the opinion that Swiss will just let them start and run for a full season then muscle in? But hey who knows - Brexit and open skies may put paid to all of that