I think that financial backing is exactly what they don't have. The BAZL is not going to let them fly because they cannot demonstrate long-term (or even short term) financial viability. I just wonder who paid the tens of millions already just to have 1 Dornier painted in their colors and never fly a single flight? What a fiasco!
I do not wish them badly. But I have heard it said before the fastest way to become a millionaire is to start out as a Billionaire and start an airline..
I think that this is another case of someone with lofty ambitions who did not know too much about airlines. They are black holes for money and it is more fun to watch sometimes than to be involved.
Hopefully my own company SWISS will survive.