The profit warning seems to be because the previously predicted loss of £9 million which was stated in June now looks like it will be £12 million. This might matter to the dividend that shareholders will receive, hence the share price dive, but it won't affect the company so long as they maintain solvency particularly since losses last year were £20 million. So at least profitability is heading in the right direction.
Company accounts are a bit complicated, Flybe's losses this year being adjusted because of a £10 million "windfall" from exiting from an "onerous lease" and suffering a one off hit from a new IT system, but in general they need to cut loss making routes and replace them with profitable routes. The good news for LDY is that they have no loss making routes to cut. The question is whether FlyBe calculate that any new routes from LDY would be profitable.
While things might look better if FlyBe hadn't issued a profit warning and if they were making a profit, it shouldn't matter to FlyBe operating out of LDY since they do have to change something to make a profit. More of the same isn't an option.