you say "If the deal with VEX and SNBA ends the 31th of March 2003, I don't think that VEX will survive long. This can also affect VG Airlines."
I would be inclined to expect the opposite to happen :
VEX will continue to fly loads of passengers on very dense routes.
SN Bru is "all over the place", meaning "everywhere and nowhere".
VEX has a "cleaner and friendlier" image than SN Bru.
(mind you all, I didn't say that "SN Bru doesn't have a clean and friendly image" !!
Ever heard publicity for SN BRU on the radio, ever seen big campaigns on billboards or in magazines & newspapers ? It's about time you start with it, guys ! (The ad in last weekends newspaper was not a very good attempt : July & August fares published on Saturday and valid until Monday. Who decides in two days where and when exactly he will go on holiday ?)
VEX can renew its fleet with NGs at almost no cost.
SN Bru : well.....how long are they stuck to their renegotiated leasing contracts (anybody knows ?). The aircraft is out of production also, so what next and at what cost ?
I might have overlooked arguments that are in favour of SN-Bru, but I fear there aren't that many. ("fear" being just an expression of "fear" for another bunch of pilots getting jobless, not necessarily because I sympathize with VEX)