They will need all the help they can get
Last time I recall a new airline trying to enter the market during $107/barrel oil prices, it was out of business in about 6 months.
It was called ExpressJet. I guess it was a commuter/feeder airline back east that had just expanded into CA/AZ under its own label, and had a perfect route for my wife to visit her family in Tucson. Went under before she ever had a chance to take it.
I hope they succeed but I wouldn't buy their stock right now.