IMO, it's not the right time for a start-up airline. Financial help would be harder to find because the government isn't interested in another "hungry mouth" to feed. Also, it would be wise to see if an airline does go out of business, because slots could open up at a hub airport, making it easier to get your foot in the door of a major market.
Also, passengers are already wary of flying. They would probably want to book their tickets on their favourite airline rather than taking a chance on an airline that is starting up in a bad economy that could be out of business the day after they buy their tickets.
Remember, this is all my opinion. You're not too far out their. In fact, I was thinking the same thing about three weeks ago.
Get your patchouli stink outta my store!