Sorry, but I disagree.
Just see this airline as a kind of national carrier for Bermuda. Financing is backed by Bermuda Tourism. They intend to improve the direct links between Bermuda and continental Europe, getting less dependent on the UK and US market.
The configuration OK
so far, maybe some changes need to be done as soon as they have gathered some more experience.
But the Bermuda clientele from Europe is not a low cost clientele, but very upscaled. And if you see the fares starting at 1699 Euro return including taxes and fuel surcharge (even of course cheaper for tour operator), then this is a realistic fare for a business class longhaul flight ! But it is expensive enough to keep away the low budget tourist.
Munich Airlines (not an "airline" BTW as they have no AOC
under this name), offers connections from almost all Geman cities by dba as well to northern Italy.
And I think it is very realistic to fill up 90 seats PER
WEEK in such a huge region to Bermuda. It is definetly a challenge in the first low season (November to April). But as soon as Bermuda as a golf destination is better marketed in Germany this should work as well.