Here we go again
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probably the worst time to start a new airline since the 70 fuel crisis
Spirit is selling their fleet. Duck tape included!
Every other airline has already copied Spirit's fees for checked bags and other nickel/dime schemes. Most also offer cheaper flight options. This is all without the same negative customer perception Spirit got where people would decide to never ever fly again with them.
Business doesn't fly with Spirit and business basically subsidizes flight for everyone else.
I don't know what else this Australian company has in mind, but as far as I can tell the niche is dead.