The larger question is why is New Leaf so threatened by this one individual that they feel the need to sue him to shut him up?
If New Leaf were doing as well as they claim, they'd ignore the squeaky wheel. All he's asking for is a $3m bond to ensure stranded passengers can get home when the venture fails.
$3m is nothing in the airline business. if New Leaf had it, they should simply post it to eliminate the issue and show customers they actually have some cash. The fact that they haven't tells you all you need to know.
Another 7 days and the majority of their new bookings wil fall into the post Labor Day window when pure leisure bookings collapse.
They need about $150k in daily revenue to break even. It's not hard to see a scenario where they are losing $350k a week and a run rate of about $18m a year. I doubt the folks in Minneapolis who are running the show will tolerate that for long.
Any one want to add to the list of new entrant sched airlines that pulled the chute in September when their advance bookings cratered?