I've flown them a couple of times....That's pretty much the walk up fare. Its real. BUT....know that it is not exactly a full business class experience.
Here's the deal
One of the two planes they use is lie flat, the other is an angled, almost lie flat (and really uncomfortable) seat.
The lounge in EWR is streetside and really dumpy. The food and drinks aren't really that great either (although better than domestic lounges on legacy carriers)
The food isn't really up to business class standards either. You don't get a lot of food either. Better than coach though.
The entertainment selections are quite poor in comparison to legacy carriers.
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But you get a big seat. I have an associate who is a person of size. I'll use it if I'm travelling with him to Paris. A lot cheaper than most biz class fares into Paris....But don't expect full biz class service from La Compaigne. Its discount business class.
I'm not aware of any transferability to any other carriers' ff program.
Its a really good deal and service....if comparing to E plus or if you're in a situation where you really need a big seat.
Also, while it has never happened to me, there are multiple reports of very poor recovery from delays/cancellations.
Sure, I fly it, but caveat emptor.