From today's paper - the plan it seems to me is WELL progressed from this snippet.

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http://www.theaustralian.news.com.au...E29098,00.html


Branson's Aussie space plan
Steve Creedy, Aviation writer
April 04, 2005

Sir Richard also indicated Virgin Blue would move soon on its long-awaited frequent-flyer program, saying the scheme would be part of a renewed assault on Qantas now that Patrick Corp's takeover bid had expired.

Asked how Patrick's 62 per cent stake would affect the airline, Sir Richard said he believed it would be "business as usual" and that it had not affected his relationship with Patrick chief executive Chris Corrigan. The Virgin boss and his son are in Australia to film cameo appearances as astronauts in the new Superman movie, which features a Virgin Galactic spaceship.