UL is a somewhat baffling choice, especially for CX to sponsor as they compete directly with CX on a few routes. I'm not quite sure what value this adds to OW either. Other than connecting South India & Sri Lanka to OW, what's the big idea?

Are these markets even important?

I'm sure there must be some logic in there somewhere, just that I can't seem to find it.

It's hardly a drop in replacement for IT - if that was the original plan. Usually I'd say the more carriers the merrier, but I don't know what value this really brings to OW