The council's been throwing money around trying to get an international service for their over the top terminal they spent $30m on before pax numbers dropped by 50%. i believe the incentives also include covering the cost of the ground handling. So, fair to say the risk will be shared fairly evenly and won't be all on Jetgo. If they got a contract between KTA and BNE might help to cover the costs of running a half or 2/3 empty aeroplane up to SIN.
It's going to rely on locals to use it as I can't see many Singaporeans wanting to start their holiday in K-town
According to the Mayor they did a survey and hundreds of people want it. getting their bums on seats vs going via PER will be a different matter entirely.